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Cars.com Inc. (CARS) reported Q2 EPS of $0.08, $0.19 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $162.9 million versus the consensus estimate of $161.92 million.
GUIDANCE:
Cars.com Inc. sees Q3 2022 revenue of $163.5-165.5 million, versus the consensus of $168.5 million.
- For the third quarter of 2022, the Company expects to deliver Revenue of approximately $163.5 million to $165.5 million, representing year-over-year and sequential growth. Guidance reflects strong first half 2022 performance balanced against the continuation of the impact of the macro-economic environment, including the industry-wide inventory shortages, rising inflation and interest rates.
- Adjusted EBITDA margin for the third quarter is expected to be between 29% and 31%, reflecting sequential margin expansion and diligent expense management with a continued focus on investing in the integration and launch of our recently acquired dealer solutions, marketing and our people.
- The Company expects revenue growth to accelerate and projects growth of 6% to 8% year-over-year in the second half of 2022, assuming inventory shortages do not begin to recover until 2023. This reflects a continued acceleration of revenue growth driven by the Company’s execution of its solutions strategy.