Avis Budget Narrows Full-year Expectations - Quick Facts

(RTTNews) - Avis Budget Group, Inc. (CAR) announced the company now estimates its 2015 adjusted earnings per share to be in the range of $3.10 to $3.25. The company noted that its estimate includes a negative impact from currency exchange rates of approximately 20 cents per share. In August, the company projected adjusted earnings of $3.15 to $3.45 per share for the full year 2015.

Analysts polled by Thomson Reuters expect the company to report profit per share of $3.36 for the full year. Analysts' estimates typically exclude special items.

The company said its adjusted EBITDA will increase 3% to 5%, to approximately $900 million to $925 million, including an approximately $50 million negative impact from movements in currency exchange rates. Adjusted pretax income will be approximately $535 million to $560 million.

The company expects full-year 2015 revenue will increase approximately 1% compared to 2014. Movements in currency exchange rates are negatively impacting revenue growth by approximately five points.

For the third-quarter, the company reported that its adjusted earnings per share increased 4%, to $1.98. Adjusted EBITDA increased 3% to $431 million and grew 13% in constant currency. Revenue increased 1% in third quarter 2015 and grew 8% in constant currency.