Cendant Predicts Optimistic Fourth Quarter

Citing recent business trends, Cendant said it expects to raise fourth-quarter and fiscal year 2002 earnings forecasts.

The owner of nine franchised hotel brands, car rental firm Avis, Cheap Tickets and Galileo, previously said that the Sept. 11 terrorist attacks had not hurt earnings as much as originally feared and has raised various quarterly and year earnings outlooks since cutting forecasts after the attacks.

The company said it will reaffirm previous 2002 adjusted earnings per share forecasts of $1.26 a share.

Cendant also said it will reaffirm long-term revenue growth goals of 5% to 7%, 10% for adjusted earnings before interest, tax, depreciation and amortization, and 13% for adjusted earnings per share.