What factors influenced CAR's earnings surprises in 2024?

Avis Budget Group, Inc. (CAR) experienced a significant earnings surprise in 2024, with an EPS surprise of $15.3, according to the latest data available. Several factors contributed to this positive earnings surprise:

|code|Ticker|Name|Date|Revenue Surprise|Revenue Surprise YoY|market_code|
|---|---|---|---|---|---|---|
|CAR|CAR.O|Avis Budget Group|2024 Q1|3.0E7|76.47058823529412|185|
|CAR|CAR.O|Avis Budget Group|2024 Q2|-9.2E7|-35.294117647058826|185|
|CAR|CAR.O|Avis Budget Group|2024 Q3|-7.0E7|-169.23076923076923|185|
|CAR|CAR.O|Avis Budget Group|2024 Q4|-1.0E7|78.26086956521739|185|

1. **Strategic Fleet Management**: Avis Budget Group's strategic approach to fleet management has enabled the company to mitigate the effects of supply-chain disruptions. By acquiring vehicles at favorable prices and adjusting fleet size based on demand, the company has improved its operations and reduced costs.
2. **Rising Fleet Costs**: Despite the benefits of strategic fleet management, rising fleet costs have affected the company's bottom line. This is a common challenge for car rental companies due to increased vehicle acquisition costs, which can impact profitability.
3. **Leisure Travel Demand**: The recovery of global tourism to pre-pandemic levels has been a significant factor in CAR's revenue growth. Strong holiday demand, particularly during the Christmas period, has contributed to the company's full-year revenues.
4. **Technological Advancements**: Avis Budget Group's investment in technology, such as the launch of a new customer app and digital tools, has improved customer experience and operational efficiency. These advancements are expected to drive future growth and customer satisfaction.

In conclusion, Avis Budget Group's strategic fleet management, leverage of leisure travel demand, and technological advancements have contributed to its earnings surprise in 2024. However, rising fleet costs remain a challenge.