CAR - Avis Budget swings to a loss as efforts to right-size fleet weighs on profits
2024-05-01 17:59:52 ET
Avis Budget Group ( NASDAQ: CAR ) shares are higher as investors overlooked the steep costs associated with right-sizing the fleet of rental vehicles, focusing instead on better-than-expected revenue for Q1. To eliminate the oversupply of vehicles and cut interest costs, the company sold a record number of vehicles in a tough market for used cars. ...
Avis Budget swings to a loss as efforts to right-size fleet weighs on profits