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Sixt:Quarterly Results/2023 Q2: Difference between revisions
→Competitor results and Expectations
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=== Hertz Global === | === Hertz Global === | ||
=== Summary of the earnings results === | ==== Summary of the earnings results ==== | ||
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* Third party data indicates that '''business travel is at around 60% of where it was pre-pandemic and is expected to return to about 95% in the next two years'''<ref name=":3" />'''.''' | * Third party data indicates that '''business travel is at around 60% of where it was pre-pandemic and is expected to return to about 95% in the next two years'''<ref name=":3" />'''.''' | ||
* Travel has continued to demonstrate strength early in Q3<ref name=":3" />. | * Travel has continued to demonstrate strength early in Q3<ref name=":3" />. | ||
=== Avis Budget Group === | |||
==== Summary of the earnings results ==== | |||
{| class="wikitable" | |||
|+ | |||
!Key Items | |||
!Actual | |||
!Estimate | |||
|- | |||
|Revenue<ref name=":4">https://www.washingtonpost.com/business/2023/07/31/earns-avis-budget-group/5797e900-2fdf-11ee-85dd-5c3c97d6acda_story.html</ref> | |||
|$3.12 billion | |||
|$3.21 billion | |||
|- | |||
|EPS<ref name=":4" /> | |||
|$11.01 | |||
|$9.79 | |||
|- | |||
|Americas segment revenue | |||
| -5% y/y | |||
| | |||
|- | |||
|International segment revenue | |||
| +3% | |||
| | |||
|} | |||
* “'''Summer travel has continued to be robust with elevated peak period demand and seasonally improved pricing.''' Our teams remain focused and ready as we transition into our busiest season of the year," Avis Budget Group CEO, Joe Ferraro said<ref name=":5">https://ir.avisbudgetgroup.com/news-releases/news-release-details/avis-budget-group-reports-second-quarter-results-0</ref>. | |||
* Pricing(RPD) declined 7% Y/Y to $70.65<ref name=":5" />. This was due strong year over year comparissons<ref name=":6">https://seekingalpha.com/article/4622241-avis-budget-group-inc-car-q2-2023-earnings-call-transcript</ref>. | |||
* Vehicle utilization was up 0.5 basis points to 70.5%<ref name=":5" />. | |||
* Demand strengthened with each consecutive month with June being the strongest. | |||
* "Demand for travel is robust, and we believe the summer of 2023 will be one for the record books," Ferraro said in the earnings call<ref name=":6" />. | |||
* Ferraro said in the earnings call that the industry is back to the pre-pandemic period where trends were seasonally determined. | |||
* Expects pricing to improve in Q3 sequentially<ref name=":6" />. | |||
=== Insights for Sixt === | === Insights for Sixt === | ||
* Demand | * Demand is strong. | ||
* Pricing was weaker due to softening used car market and strong comparissons. Pricing outlook is positive. | * Pricing was weaker due to softening used car market and strong comparissons. Pricing outlook is positive. | ||
* Outlook is positive. | * Outlook is positive. | ||
* Industry seems to be back to the pre-pandemic levels. | |||
== References == | == References == | ||