Verra Mobility Contract With Avis Budget Group Terminated

Dow Jones

May 27

By Christopher Kuo

Verra Mobility's contract with Avis Budget Group is being terminated effective September 2026.

The smart mobility technology provider said it plans to implement cost cuts in response to termination of the contract, which is expected to cut the company's revenue by about $135 million to $145 million this year.

The company on Tuesday also lowered its guidance for full-year revenue and adjusted earnings per share.

Verra said it now expects revenue of $985 million to $995 million and adjusted earnings per share of $1.19 to $1.25. Analysts polled by FactSet expect revenue of $1.03 billion and adjusted earnings per share of $1.36.

"We were surprised and disappointed to receive this notice from Avis Budget Group given our longstanding partnership and the significant time invested by both parties in ongoing extension negotiations," Chief Executive David Roberts said.

The company's shares plunged 27% in after-hours trading to $9.49. The stock is down 42% year to date.

Write to Christopher Kuo at chris.kuo@wsj.com

(END) Dow Jones Newswires

May 26, 2026 16:34 ET (20:34 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

LOGIN / SIGN UP

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.gotigerhk.com/news/2638528503"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2638528503\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2638528503?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-05-27 04:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2638528503","market":"sg","top_or_hot":-1,"title":"Verra Mobility Contract With Avis Budget Group Terminated","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Christopher Kuo \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/VRRM\">Verra Mobility</a>'s contract with Avis Budget Group is being terminated effective September 2026. \n</p>\n<p>\n  The smart mobility technology provider said it plans to implement cost cuts in response to termination of the contract, which is expected to cut the company's revenue by about $135 million to $145 million this year. \n</p>\n<p>\n  The company on Tuesday also lowered its guidance for full-year revenue and adjusted earnings per share. \n</p>\n<p>\n  Verra said it now expects revenue of $985 million to $995 million and adjusted earnings per share of $1.19 to $1.25. Analysts polled by FactSet expect revenue of $1.03 billion and adjusted earnings per share of $1.36. \n</p>\n<p>\n  \"We were surprised and disappointed to receive this notice from Avis Budget Group given our longstanding partnership and the significant time invested by both parties in ongoing extension negotiations,\" Chief Executive David Roberts said. \n</p>\n<p>\n  The company's shares plunged 27% in after-hours trading to $9.49. The stock is down 42% year to date. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Christopher Kuo at chris.kuo@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 26, 2026 16:34 ET (20:34 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Verra Mobility Contract With Avis Budget Group Terminated</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVerra Mobility Contract With Avis Budget Group Terminated\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-27 04:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Christopher Kuo \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  <a href=\"https://laohu8.com/S/VRRM\">Verra Mobility</a>'s contract with Avis Budget Group is being terminated effective September 2026. \n</p>\n<p>\n  The smart mobility technology provider said it plans to implement cost cuts in response to termination of the contract, which is expected to cut the company's revenue by about $135 million to $145 million this year. \n</p>\n<p>\n  The company on Tuesday also lowered its guidance for full-year revenue and adjusted earnings per share. \n</p>\n<p>\n  Verra said it now expects revenue of $985 million to $995 million and adjusted earnings per share of $1.19 to $1.25. Analysts polled by FactSet expect revenue of $1.03 billion and adjusted earnings per share of $1.36. \n</p>\n<p>\n  \"We were surprised and disappointed to receive this notice from Avis Budget Group given our longstanding partnership and the significant time invested by both parties in ongoing extension negotiations,\" Chief Executive David Roberts said. \n</p>\n<p>\n  The company's shares plunged 27% in after-hours trading to $9.49. The stock is down 42% year to date. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Christopher Kuo at chris.kuo@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 26, 2026 16:34 ET (20:34 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4106","symbol_name":"数据处理与外包服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2638528503","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2638528503","pubTimestamp":1779827640,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Verra Mobility's contract with Avis Budget Group is being terminated effective September 2026.The smart mobility technology provider said it plans to implement cost cuts in response to termination of the contract, which is expected to cut the company's revenue by about $135 million to $145 million this year.The company on Tuesday also lowered its guidance for full-year revenue and adjusted earnings per share.Verra said it now expects revenue of $985 million to $995 million and adjusted earnings per share of $1.19 to $1.25. Analysts polled by FactSet expect revenue of $1.03 billion and adjusted earnings per share of $1.36.\"We were surprised and disappointed to receive this notice from Avis Budget Group given our longstanding partnership and the significant time invested by both parties in ongoing extension negotiations,\" Chief Executive David Roberts said.The company's shares plunged 27% in after-hours trading to $9.49. The stock is down 42% year to date.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4106":"数据处理与外包服务","BK4230":"旅客陆运","CAR":"安飞士","BK4226":"数据处理及外包服务","LU0757428866.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AE\" (USD) ACC","VRRM":"Verra Mobility Corporation","BK4022":"陆运","LU1815336091.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AUP\" (USD) INC","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)"},"translate_title":"Verra Mobility与Avis Budget Group的合同终止","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/c49a3c9b569ab0e531cb5437ffb0eb0a","symbols_score_info":{"CAR":1.5,"VRRM":0.9},"content_text":"By Christopher Kuo \n\n\n \n\n\nVerra Mobility's contract with Avis Budget Group is being terminated effective September 2026. \n\n\n  The smart mobility technology provider said it plans to implement cost cuts in response to termination of the contract, which is expected to cut the company's revenue by about $135 million to $145 million this year. \n\n\n  The company on Tuesday also lowered its guidance for full-year revenue and adjusted earnings per share. \n\n\n  Verra said it now expects revenue of $985 million to $995 million and adjusted earnings per share of $1.19 to $1.25. Analysts polled by FactSet expect revenue of $1.03 billion and adjusted earnings per share of $1.36. \n\n\n  \"We were surprised and disappointed to receive this notice from Avis Budget Group given our longstanding partnership and the significant time invested by both parties in ongoing extension negotiations,\" Chief Executive David Roberts said. \n\n\n  The company's shares plunged 27% in after-hours trading to $9.49. The stock is down 42% year to date. \n\n\n \n\n\n  Write to Christopher Kuo at chris.kuo@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 26, 2026 16:34 ET (20:34 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}