Due to a surprisingly low $10 a unit per month depreciation figure, Avis Budget Group Inc (NASDAQ:CAR) beat its consenus adjusted EBITDA estimates by 32%.
The Analyst: Morgan Stanley analyst Adam Jonas reported there was a race between falling share count and falling EBITDA, as risks to the downside include used car values falling sharply affecting EBITDA, FCF and the deterioration of pricing and volumes.
