Are Public Companies OK With Earnings Projections?
On September 1, 2000 a few publicly traded companies remarked about their earnings projections. Some believe that they are on the money, but others need an adjustment.Avis Group Holding, Inc. an...
On September 1, 2000 a few publicly traded companies remarked about their earnings projections. Some believe that they are on the money, but others need an adjustment.
Avis Group Holding, Inc. and Dollar Thrifty Automotive Group, Inc. both claim that they are comfortable with their earnings projections for the third and fourth quarters of this year.
Avis Group Holding, Inc. has actually upgraded its 2000 and 2001 estimates. According to Kevin Sheehan, president of corporate and business affairs, those estimates, per share, are now $3.13 and $3.98 respectively, up from an estimate of $2.80 for this year. The upgrade is a result of continued strength of the company’s businesses and the closing of the BNP Paribas and fuel card businesses.
Dollar Thrifty Automotive Group, Inc. expects that its original prognostications will be correct. The company estimates that third quarter earnings will be $1.33 per share and $3.09 for the year.
On the other hand, The Hertz Corporation has lowered its expectations for net income growth for both the third and fourth quarters of 2000, and year-end figures.
The company estimates net income for the third quarter to be $1.30 and $0.51 per share for the fourth quarter. These estimates are down $0.13 and $0.12 respectively. Net income for the year 2000 is expected to be $3.30.
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