Dollar Thrifty Projects Rise In Adjusted EBITDA, Lifts Share Repurchase Authorization

Dollar Thrifty Automotive Group Inc (NYSE: DTG) said that it projects adjusted EBITDA to rise 17% to 28% in the third quarter, and lifted its share repurchase authorization.

Dollar Thrifty projects corporate adjusted EBITDA of $110 to $120 million, versus $93.7 million, in the year-earlier period. It expects Q3 rental revenue to rise around 2%.

Dollar Thrifty's board also lifted the stock buyback authorization to $400 million from $100 million.

Dollar Thrifty shares dropped 0.70% to close at $59.58 on Friday.