secwatch.observer — SEC 8-K summary
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Issuer:     Cars.com Inc. (CARS)
CIK:        0001683606
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0000950170-24-093338
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cars.com Q2 revenue up 6.4% to $178.9M but cuts FY revenue growth outlook to 4.5-5.5%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1683606/000095017024093338/0000950170-24-093338-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1683606/000095017024093338/cars-20240808.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-093338

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer