earnings
confidence high
sentiment neutral
materiality 0.65
Cars.com Q2 revenue up 6.4% to $178.9M but cuts FY revenue growth outlook to 4.5-5.5%
Cars.com Inc.
2024-Q2 EPS reported
$0.18
revenue$359,070,000
- Adj EBITDA $50.4M (28% margin) vs $45.6M (27%) YoY; Adj EPS $0.38 vs $0.33.
- OEM & National revenue surged 28% YoY; dealer customers grew sequentially to 19,390.
- FY2024 revenue growth outlook cut to 4.5-5.5% from 6-8%; Adj EBITDA margin reaffirmed 28-30%.
- Targeting 50% of H2 free cash flow for share repurchases; $105M remaining under authorization.
- Q3 revenue guided $178-181M (2-4% YoY growth) citing CDK cyber incident impact.