Cars.com Q3 revenue $179.7M (+3.1% YoY); Adj. EBITDA $51.1M; reaffirms FY2024 outlook

Cars.com Inc.

2024-Q3 EPS reported $0.46 revenue$538,721,000

Revenue $179.7M (+3.1% YoY); net income $18.7M vs $4.5M; Adj. EBITDA $51.1M (28.5% margin).
OEM & National revenue up 17% YoY; Dealer revenue up 2% YoY; ARPD $2,478 (-3%).
YTD net cash from ops $122.5M (+34% YoY); free cash flow $103.7M; repurchased 1.2M shares in Q3.
Debt reduced to $470M; net leverage 2.0x, at low-end of target range.
FY2024 outlook reaffirmed: rev growth 4.5-5.5%, Adj. EBITDA margin 28-30%.

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