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Sep 30, 2024
Cargurus Q3 2024 Earnings Report
Marketplace revenue growth accelerated, and operating efficiencies were leveraged.
Key Takeaways
CarGurus announced strong Q3 2024 results with Marketplace revenue growth accelerating to 15% YoY and GAAP Net Income up 19% YoY. The company's Board of Directors authorized a $200.0 million share repurchase program for fiscal year 2025.
Marketplace revenue further accelerated to 15% YoY.
Consolidated GAAP Net Income of $22.5 million, up 19% YoY.
Non-GAAP Consolidated Adjusted EBITDA of $64.9 million, up 33% YoY.
Board of Directors authorized $200.0 million share repurchase program for fiscal year 2025.
Forward Guidance
CarGurus provided guidance for Q4 2024, projecting total revenue between $219 million and $239 million, Marketplace revenue between $208 million and $213 million, Non-GAAP Consolidated Adjusted EBITDA between $72 million and $80 million, and Non-GAAP EPS between $0.50 and $0.55.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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