Stock Track | Avis Budget Plunges 10.97% in Post-Market on Q4 Earnings Miss and EV Fleet Impairment Charges

Stock Track

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Avis Budget Group's stock experienced a significant 10.97% decline in post-market trading on Wednesday. The sharp drop followed the release of the company's fourth-quarter financial results, which failed to meet analyst expectations across key performance metrics.

The car rental company reported a quarterly loss of $21.25 per diluted share, dramatically missing the FactSet consensus estimate for a loss of $0.22 per share. Revenue for the quarter came in at $2.66 billion, below the expected $2.74 billion, while adjusted EBITDA was just $5 million compared to the anticipated $145.8 million.

The results were significantly impacted by $518 million in impairment and related charges tied to a change in the company's fleet strategy, which shortened the useful life of certain electric vehicle rental cars in the U.S. market. This substantial non-cash charge contributed to the quarter's substantial net loss, reflecting the company's strategic shift away from parts of its EV rental fleet.

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The sharp drop followed the release of the company's fourth-quarter financial results, which failed to meet analyst expectations across key performance metrics.</p><p>The car rental company reported a quarterly loss of $21.25 per diluted share, dramatically missing the FactSet consensus estimate for a loss of $0.22 per share. Revenue for the quarter came in at $2.66 billion, below the expected $2.74 billion, while adjusted EBITDA was just $5 million compared to the anticipated $145.8 million.</p><p>The results were significantly impacted by $518 million in impairment and related charges tied to a change in the company's fleet strategy, which shortened the useful life of certain electric vehicle rental cars in the U.S. market. This substantial non-cash charge contributed to the quarter's substantial net loss, reflecting the company's strategic shift away from parts of its EV rental fleet.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAR","symbol_name":"安飞士","start_time":0,"source_url":"","article_id":"1177964898","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1177964898","pubTimestamp":1771463461,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Avis Budget Group's stock experienced a significant 10.97% decline in post-market trading on Wednesday. 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