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Cango Inc (CANG)
NYSE:CANG
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 80.36%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Neutral
While Cango showed improvements in operational efficiency and growth in digital platforms, the substantial year-over-year revenue decline and increased expenses pose significant challenges. The lower revenue forecast for the next quarter also adds to the negative outlook.Company Guidance
During the third quarter of 2024, Cango Inc. reported a stable business performance with total revenue reaching RMB 26.95 million, operating profit at RMB 25.24 million, and net profit of RMB 67.88 million. The company emphasized its focus on cost control and risk management, which led to enhanced operational efficiency and a low non-performing loan ratio. By September 30, the outstanding loan balance was approximately RMB 4.8 billion, with M1 and M3+ rates at 3.17% and 1.76%, respectively. Cango also announced an increase in total cash, cash equivalents, and short-term investments to RMB 3.8 billion, marking a rise of RMB 9.27 million compared to the previous quarter. The Cango U-car app recorded a 21% increase in page views, reaching 280,000, while its international used car platform, AutoCango.com, accumulated over 370,000 page views and nearly 60,000 registered users since March 2024. The company's search engine visibility improved significantly, with impressions surpassing 2.41 million, and it aims to reach 4 million by year-end, reflecting its commitment to expanding its global reach. Cango plans to enhance AutoCango.com's quality and functionality and leverage data analysis for strategic marketing, as the company continues its pursuit of global growth and strategic investments.Stable Revenue and Profit Growth
Total revenue for Q3 2024 was RMB 26.95 million, with an operating profit of RMB 25.24 million and a net profit of RMB 67.88 million. These results were driven by strict cost control and risk management strategies.
Improvement in Operational Efficiency
Cango reduced its credit risk exposure and increased its cash, cash equivalents, and short-term investments by RMB 9.27 million compared to the previous quarter.
Growth in Cango U-car App and International Platform
The Cango U-car app saw a 21% increase in page views, reaching 280,000 by the end of Q3 2024. The international platform, AutoCango.com, accumulated over 370,000 page views and nearly 60,000 registered users since its launch in March 2024.
Enhanced Search Engine Visibility
AutoCango.com's visibility in search engine results exceeded 2.41 million impressions, with expectations to surpass 4 million by the end of the year.
Strategic Partnerships and Technological Innovations
Cango established strategic partnerships with used car marketplaces and introduced a rapid vehicle inspection service, enhancing competitive advantages and transparency.
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CANG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CANG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $2.80 | $2.83 | +1.07% |
| Aug 29, 2024 | $1.77 | $1.72 | -2.82% |
| Jun 12, 2024 | $1.87 | $1.58 | -15.51% |
| Mar 11, 2024 | $1.55 | $1.58 | +1.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cango Inc (CANG) report earnings?
Cango Inc (CANG) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Cango Inc (CANG) earnings time?
Cango Inc (CANG) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CANG EPS forecast?
Currently, no data Available
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