Cendant has raised its fourth-quarter and 2001 earnings forecasts and said it remains confident in its long-term growth outlook.
Cendant, whose subsidaries include Avis, Cheap Tickets and Galileo, said that it expects to report fourth-quarter adjusted earnings of 21 cents per share and $1.04 per share for the full year. It had previously expected to earn 20 cents per adjusted share. The company also reiterated its 2002 outlook for adjusted earnings of $1.25 per share. Cendant expects to report 2001 total revenues of $8.74 billion to $8.9 billion and $10.5 billion to $11 billion for 2002. It also expects to have $2 billion in free cash flow next year.