Avis Budget Group (CAR) reported third quarter EPS of $3.10 after the bell Monday, up from $2.47 last year. Revenues rose 3.4% to $2.75 billion, from $2.66 billion last year. The consensus estimates were for EPS of $3.00 and revenues of $2.78 billion.
The company now expects to report full year revenues of $8.80 billion to $8.90 billion and EPS of $2.45 to $2.65.
Avis Budget Group gapped open lower Tuesday and declined throughout the first half of the session. Shares finished with a loss of 6.26 at $35.16 on above average volume. The stock dropped to a month and a half low and fell below its 50-day moving average.
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