Verra Mobility slashed its full-year outlook and lost a key Avis Budget Group contract, triggering a sharp premarket selloff.
Verra Mobility shares dropped as much as 46% in premarket trading after the company reduced its full-year earnings forecast and revealed Avis Budget Group terminated its contract. The loss of the major client and lowered guidance weighed heavily on investor sentiment.
Prior to the announcement, Verra Mobility had not signaled significant contract risks or earnings revisions. The company’s outlook for 2026 had previously reflected stable growth expectations, making the downgrade a surprise to markets.
The stock’s decline reflects concerns over revenue stability and future growth prospects without the Avis partnership.