Avis Budget Group Inc. Q3 adjusted earnings Miss Estimates

(RTTNews) - Avis Budget Group Inc. (CAR) announced earnings for third quarter that declined from last year.

The company's profit totaled $189 million, or $2.50 per share. This compares with $213 million, or $2.68 per share, in last year's third quarter.

Excluding items, Avis Budget Group Inc. reported adjusted earnings of $223 million or $2.96 per share for the period.

Analysts had expected the company to earn $3.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.1% to $2.75 billion from $2.78 billion last year.

Avis Budget Group Inc. earnings at a glance:

-Earnings (Q3): $223 Mln. vs. $265 Mln. last year. -EPS (Q3): $2.96 vs. $3.33 last year. -Analysts Estimate: $3.64 -Revenue (Q3): $2.75 Bln vs. $2.78 Bln last year.

-Guidance: Full year EPS guidance: $3.35 - $4.20 Full year revenue guidance: $9.0 - $9.2 Bln