Sixt:Quarterly Results/2024 Q4: Difference between revisions

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== Competitor Earnings Expectations and Results ==
== Competitor Earnings Expectations and Results ==
=== Avis Budget ===
==== Results ====
{| class="wikitable"
|-
!Key Items
!Q4 2024 Actual<ref>https://ir.avisbudgetgroup.com/news-releases/news-release-details/avis-budget-group-reports-fourth-quarter-and-full-year-results-0</ref>
!Y/Y
!Q4 2024 Analysts estimate<ref>https://finance.yahoo.com/news/avis-budget-car-q4-earnings-230011631.html</ref>
|-
|Revenue
|$2.71 billion
| -2%
|$2.73 billion
|-
|EPS
| -$0.23
|
| -$0.96
|-
|Revenue-international
|$593 million
| -1%
|$626.17 million
|-
|Revenue-Americas
|$2.12 billion
| -2%
|$2.12 billion
|-
|Vehicle utilization-international
|68.3%
|2.6 pps
|70.5%
|-
|Vehicle utilization-Americas
|67.4%
|2.4 pps
|67%
|-
|Per-unit fleet cost per month-international
|$304
|4%
|$311.8
|-
|Per-unit fleet cost per month-Americas
|$430
|58%
|$386.4
|-
|Revenue-per day
|$217 million
| -2%
|
|-
|Revenue-per day-Americas
|$68.64
| -2.7%
|$67.89
|-
|Revenue-per day-international
|$54.15
|0%
|
|-
|Vehicle depreciation and lease charges
|$801 million
|37.6%
|
|-
|Vehicle depreciation and lease-Americas
|$643 million
|51.6%
|
|-
|Vehicle depreciation and lease-international
|$159 million
|0.6%
|
|}
==== Earnings call summary ====
Here are the main insights from Avis's [https://seekingalpha.com/article/4757501-avis-budget-group-inc-car-q4-2024-earnings-call-transcript?source=feed_all_articles Q4 2024 earnings call transcript]:
====== '''Demand''' ======
* CEO Joseph Ferraro said demand was strong during the quarter, thanks to the Thanksgiving and December holidays.
* Ferraro added that they saw a continuation of a strong leisure demand in January, associated with longer holiday season and robust MLK weekend.
* Ferraro pointed out that the extra day last year and the calendar switch of Easter will impact Q1.
'''Pricing'''
* Ferraro said pricing was down 2% y/y but improved sequentially throughout the quarter, with December finishing flat y/y.
* CFO Izilda Martins said they expect revenue per day in Q1 to be down slightly y/y, with improvements towards the end of April.
====== '''Depreciation costs''' ======
* Martins said the straight-line depreciation curve is steeper than initially modeled.
* Martins said they also expected elevated monthly depreciation levels in the first quarter of 2025 but a normalization in Q2.
====== '''Impact of tariffs''' ======
* Ferraro said tariffs could benefit them since elevated new car prices will drive up demand for used prices.
====== '''2025 EBITDA guidance''' ======
* Avis projected adjusted EBITDA of no less than $1 billion for 2025, that is an increase of 59% y/y.


== References ==
== References ==