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Cars.com, Inc. (CARS)
NYSE:CARS
Holding CARS?
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.56Last Year’s EPS
$0.81Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 3.87%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Positive
The earnings call depicted a generally positive outlook with strong growth metrics in OEM revenue and adjusted EBITDA margins. However, challenges such as the decline in dealer customers and increased operating expenses were noted. The recovery from the CDK outage and positive growth in October were emphasized as signs of recovery.Company Guidance
During the Cars.com Q3 2024 earnings call, executives provided guidance on several key financial metrics and business strategies. The company reaffirmed its fiscal year 2024 outlook with an expected revenue growth of 4.5% to 5.5%. They also anticipate high single-digit growth in OEM and national revenue for Q4, while dealer revenue is projected to grow modestly. The adjusted EBITDA margin for 2024 is expected to remain between 28% and 30%, with an anticipated exit margin of approximately 30% in Q4. Cars.com reported a third-quarter revenue of $180 million, a 3% increase year-over-year, and an adjusted EBITDA of $51 million, representing a 28.5% margin. The call highlighted the company's focus on product innovation, with the AccuTrade platform driving dealership operational efficiency and profitability, and emphasized the successful rebound of dealer count growth in October after challenges from third-party DMS outages.Record Q3 Revenue
Revenue grew 3% year-over-year, marking the 16th consecutive quarter of growth and setting a new record for Q3 revenue at $180 million.
OEM Revenue Growth
OEM revenue grew 17% year-over-year, reaching over $17 million, the highest in over three years.
AccuTrade Subscriber Growth
AccuTrade returned to positive quarter-over-quarter subscriber growth, with appraisal volume up 5% quarter-over-quarter.
Adjusted EBITDA Margin Achieved
The company delivered an adjusted EBITDA margin of 28.5%, at the top of the guidance range.
VIN Performance Media Success
VIN Performance Media product quadrupled its subscriber base since Q1, exceeding $3 million in annualized revenue in Q3.
Successful Debt Reduction
Reduced total outstanding debt to $470 million and net leverage to 2x, at the low end of the target range.
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CARS 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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CARS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $16.81 | $17.85 | +6.19% |
| Aug 08, 2024 | $17.86 | $16.79 | -5.99% |
| May 09, 2024 | $17.07 | $18.64 | +9.20% |
| Feb 22, 2024 | $18.05 | $18.00 | -0.28% |
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 Cars.com, Inc. (CARS) report earnings?
Cars.com, Inc. (CARS) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Cars.com, Inc. (CARS) earnings time?
Cars.com, Inc. (CARS) earnings time is at Feb 20, 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 CARS EPS forecast?
CARS EPS forecast for the fiscal quarter 2024 (Q4) is $0.56.
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