Car rental company
Dollar Thrifty Automotive
said it expects to beat Wall Street's second-quarter consensus estimate on cost management and fleet size reductions.
The company, which runs Dollar Rent A Car Systems and Thrifty, said its results will exceed the Thomson Financial/First Call consensus estimate of 54 cents a share, although the company didn't provide a range of estimates earnings. In the year-ago quarter, Dollar Thrifty earned 50 cents a share.
In a press release, the company said, "Throughout the second quarter, we have kept our fleet size well below prior year levels. These actions, combined with continued tight cost controls, will enable us to exceed second quarter earnings expectations."
As airline passenger traffic improves during the summer, Dollar Thrifty added, the capacity reductions should create strong pricing for the summer season.
Shares of Dollar Thrifty closed at $25.01 Thursday before the guidance.