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Sep 30, 2024
Cars.com Q3 2024 Earnings Report
Cars.com's Q3 2024 earnings demonstrated revenue growth and strategic execution.
Key Takeaways
Cars.com Inc. reported a 3.1% year-over-year increase in revenue, reaching $179.7 million for the third quarter of 2024. Net income increased significantly to $18.7 million, or $0.28 per diluted share. The company reaffirmed its fiscal year 2024 outlook, expecting revenue growth of 4.5% to 5.5%.
Revenue increased by 3.1% year-over-year to $179.7 million.
Net income rose to $18.7 million, or $0.28 per diluted share.
Adjusted EBITDA reached $51.1 million, representing 28.5% of revenue.
The company is reaffirming its fiscal year 2024 outlook of 4.5% to 5.5% revenue growth.
Revenue by Segment
Forward Guidance
The Company is reaffirming its fiscal year 2024 outlook of 4.5% to 5.5% revenue growth. For the fourth quarter, the Company anticipates continued strong high single digit year-over-year growth in OEM & National revenue, as well as modest growth in Dealer revenue. Adjusted EBITDA margin outlook for fiscal 2024 remains 28.0% to 30.0%.
Positive Outlook
- Continued strong high single digit year-over-year growth in OEM & National revenue is expected.
- Modest growth in Dealer revenue is anticipated.
- Adjusted EBITDA margin outlook for fiscal 2024 remains 28.0% to 30.0%.
- Disciplined cost management is expected to continue delivering strong operating leverage for the remainder of the year.
- Company is reaffirming its fiscal year 2024 outlook of 4.5% to 5.5% revenue growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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