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What's in the Cards for Avis Budget (CAR) in Q1 Earnings?

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Avis Budget Group, Inc. (CAR - Free Report) is scheduled to release its first-quarter 2023 results on May 1, after the market close.

The company has an impressive earnings surprise history with earnings surpassing the Zacks Consensus Estimate in all the four trailing quarters. The average earnings surprise is 78%.

The consensus estimate for the bottom line is pegged at $3.27, which has been revised downward by 21.2% in the past 60 days.

Avis Budget Group, Inc. Price and EPS Surprise

 

Avis Budget Group, Inc. Price and EPS Surprise

Avis Budget Group, Inc. price-eps-surprise | Avis Budget Group, Inc. Quote

 

Q1 Expectations

The Zacks Consensus Estimate for the top line is currently pegged at $2.5 billion, up 2.9% from the year-ago actual figure. The uptick can be associated with the increase in commercial demand and robust cost strategy.

Segmental Information

The Zacks Consensus Estimate for the International segment’s revenues in the to-be-reported quarter is pegged at $551 million, indicating a 27.5% increase year over year. The expected increase might have been due to the strong demand and stern cost control strategy.

Revenues from the American segment are likely to fall 4% on a year-over-year basis, the Zacks Consensus Estimate of which is currently pegged at $1.9 billion. The expected decline is likely to have been due to continued disruptions in the supply chain.

Inflationary pressure is likely to have weighed on the company’s bottom line. The current consensus estimate for earnings indicates a 67% decline from the year-ago reported figure.

What Our Model Says

Our proven model predicts an earnings beat for CAR this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

CAR has an Earnings ESP of +24.29% and a Zacks Rank of 3.

Other Stocks to Consider

Here are a few other stocks from the broader Business Servicessector, which according to our model, also have the right combination of elements to beat on earnings this season.

Charles River Associates (CRAI - Free Report) currently has an Earnings ESP of +2.63% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

It is scheduled to report its first-quarter 2023 results on May 4, before the market open.

The Zacks Consensus Estimate for the bottom line is pegged at $1.33 per share, down 13.1% from the year-ago figure. The consensus mark for revenues is pegged at $152.6 million, up 2.8% from the figure reported a year ago. CRAI had an average surprise of 19.8% in the previous four quarters.

Waste Management (WM - Free Report) currently has an Earnings ESP of +0.63% and a Zacks Rank of 3. It is scheduled to report its first-quarter 2023 results on Apr 26, after the market close.

The Zacks Consensus Estimate for earnings is pegged at $1.27 per share, down 1.6% from the year-ago figure. The consensus mark for revenues is pegged at $4.84 billion, up 3.9% from the prior-year figure. WM had an average surprise of 4.7% in the previous four quarters.

S&P Global (SPGI - Free Report) currently has an Earnings ESP of +1.2% and a Zacks Rank of 3. It is scheduled to report its first-quarter 2023 results on Apr 27, before the market open.

The Zacks Consensus Estimate for earnings is pegged at $2.92 per share, 1.04% more than the year-ago figure. The consensus mark for revenues is pegged at $2.1 billion, up 27.7% from the prior-year figure. SPGI has an average surprise of 0.19% in the previous four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

 

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