Dollar Thrifty Cuts 2007 Adjusted EPS Estimate To 90c To 95c
( FOX BUSINESS )- Dollar Thrifty Automotive Group Inc. late Friday lowered its adjusted earnings-per-share estimate for 2007 to a range of 90 cents to 95 cents from $1.75 to $1.85 previously. In GAAP terms, it expects earnings to be flat or post a loss of 5 cents a share. The Tulsa, Okla .-based car rental company cited weaker industry demand in the travel market, excess fleet capacity in the industry, and a weakening used car market for its more bearish outlook. The company also said it is suspending its share buyback program.