Avis Budget Extends Multi-Year Agreement With Maple Leaf

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Avis Budget Group, Inc. 's CAR premium brand Avis and Toronto-based Maple Leaf Sports & Entertainment (MLSE) have extended their ongoing partnership on vehicle rental services.

Through a renewed multi-year agreement, Avis will continue as the official vehicle rental partner of the Toronto Maple Leafs and Toronto FC. The mobility brand will be able to advertise products and services to numerous sports fanatics as well as tourists of Scotiabank Arena and BMO Field. Program elements encompass camera-visible signage during games, arena signage, events, in-market advertising and promotional opportunities.

Beth Kinerk, senior vice president, sales, Avis Budget Group, stated, "Maple Leaf Sports & Entertainment has been a great partner and has allowed us to engage customers, drive rentals and generate new business opportunities. We're excited to renew our agreement with them and build upon our customer engagement efforts in Canada."

Avis Budget Group, Inc. Revenue (TTM)

Avis Budget Group, Inc. Revenue (TTM) | Avis Budget Group, Inc. Quote

Our Take

We believe that extension of the partnership will help Avis boost the Americas segment that comprises all the operations in North America, South America and the Caribbean, including Budget Truck Rental. Performance of this segment was decent in the last reported quarter. The segment's revenues, contributing 68% to total revenues, inched up 1.6% year over year to $1.6 billion.

Zacks Rank & Key Picks

Avis Budget carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader Business Services Sector are Broadridge Financial Solutions, Inc. BR , WEX Inc. WEX and NV5 Global, Inc. NVEE , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .

The long-term expected earnings per share (three to five years) growth rate for Broadridge, WEX and NV5 Global is 10%, 15% and 20%, respectively.

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Avis Budget Group, Inc. (CAR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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