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Avis Budget Group reports weak financial results despite operational efficiency

The Motley Fool +1 · ·by G4L

CAR
CAR Avis Budget Group Inc
$127.65 +7.42%
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  1. 1Avis Budget Group recorded an adjusted EBITDA of $513 million for the third quarter.
  2. 2Avis Budget Group saw an EBITDA shortfall of approximately $50 million compared to expectations.
  3. 3Management noted a 2.8% decrease in TSA passenger volume for the quarter.

So what's the key point?

Avis Budget Group earned $50 million less in profit than experts expected during the third quarter. This means the company's earnings fell short of expectations as passenger numbers declined.

Source The Motley Fool +1 · View original ↗

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