Is CAR's Q3 2024 earnings trend a concern?

**Avis Budget Group's (CAR) Q3 2024 earnings trend is a concern due to several factors indicating potential challenges and declines in key financial metrics.** Here's a detailed analysis:

1. **Decreased EPS Estimates**:
- Zacks Research analyst S. Dey has decreased the Q3 2024 EPS estimate for Avis Budget Group from $10.34 to $8.86.
- This reduction reflects a more cautious outlook on the company's profitability for the period.
2. **Revenue Estimates**:
- The estimated revenue for Q3 2024 is $3.55 billion.
- While this is a substantial figure, it is important to consider the context of previous quarters and industry trends to assess the sustainability of revenue growth.

3. **Analyst Opinions and Estimate Revisions**:
- Analysts at Zacks Research have revised Q3 2024 EPS estimates downward, indicating a potential decline in earnings compared to the previous quarter's estimates.
- This trend of estimate revisions suggests a consensus among analysts that Q3 2024 may not meet market expectations.
4. **Comparative Performance with Previous Quarters**:
- Avis Budget Group's Q2 2024 earnings missed expectations, with revenue down 2.4% from the previous year's second quarter and a significant drop in net income.
- The company's performance in Q2 2024, including missed expectations and a 97% decline in net income, sets a concerning precedent for Q3 2024.
5. **Strategic Adjustments and Challenges**:
- Despite strong performance in some markets, challenges in pricing and vehicle sales have been noted.
- The company's international operations showed strong performance, but this may not fully offset potential declines in other areas.

In conclusion, while there are positive aspects to Avis Budget Group's international performance and strategic adjustments, the trend of decreased EPS estimates, revenue misses, and analyst revisions downward suggests that Q3 2024 earnings may be a concern. Investors should monitor the company's performance closely, considering both the potential for resilience in certain markets and the broader economic and competitive pressures that may impact profitability.