Group 1 - ACV Auctions Inc. (ACVA) is outperforming the Retail-Wholesale sector with a year-to-date return of 22.6%, compared to the sector's average return of 12.5% [2][3] - The Zacks Rank for ACV Auctions Inc. is 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [2] - The Zacks Consensus Estimate for ACVA's full-year earnings has increased by 4.1% over the past quarter, reflecting improving analyst sentiment [2] Group 2 - ACV Auctions Inc. belongs to the Internet - Commerce industry, which has an average year-to-date return of 14.7%, indicating that ACVA is performing better than its industry peers [3] - Abercrombie & Fitch (ANF) is another strong performer in the Retail-Wholesale sector, with a year-to-date return of 87.1% [2] - The consensus EPS estimate for Abercrombie & Fitch has increased by 23.3% over the past three months, also holding a Zacks Rank of 2 (Buy) [3]

Financial Data and Key Metrics Changes - Revenue for Q2 2024 grew 29% year-over-year to $161 million, exceeding the high-end of guidance [8][21] - Adjusted EBITDA increased 65% sequentially, resulting in a 700 basis point year-over-year improvement in adjusted EBITDA margin [7][21] - Non-GAAP net income was at the midpoint of guidance with a margin increase of approximately 300 basis points year-over-year [22] Business Line Data and Key Metrics Changes - Auction and assurance revenue accounted for 57% of total revenue, growing 33% year-over-year, with unit growth of 22% [23] - Marketplace services revenue represented 38% of total revenue, increasing by 30% year-over-year, driven by strong ACV Transport performance [23] - SaaS and data services products comprised 5% of total revenue, returning to positive growth [24] Market Data and Key Metrics Changes - New retail sales were flat year-over-year due to the CDK outage, while used retail sales declined approximately 5% year-over-year [9][10] - Used vehicle inventory levels have recovered from historical lows but remain about 20% below normal [10] - The trade to wholesale mix showed a slight uptick, indicating dealers are beginning to wholesale more vehicles [11] Company Strategy and Development Direction - The company focuses on three pillars for long-term shareholder value: growth, innovation, and scale [9] - The strategy includes expanding the addressable market and enhancing product offerings, particularly in the commercial sector [39][41] - The company aims to achieve adjusted EBITDA profitability in 2024 while maintaining a disciplined approach to expenses [28][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the automotive market's recovery, citing normalization of new vehicle inventories and increased OEM incentives [10][11] - The company anticipates modest recovery in the dealer wholesale market in the second half of 2024 [28] - Management remains cautious about macroeconomic factors but is encouraged by strong performance in July and early August [27][63] Other Important Information - The company ended Q2 with $273 million in cash and cash equivalents, with $110 million of debt on its revolver [26] - The company is piloting a new offering for financing consumer source vehicles and dealer trade-ins [13][57] Q&A Session Summary Question: What signs of progress are seen in the market? - Management noted that new vehicle inventory is normalizing and OEMs are increasing incentives, which are positive signals for the market recovery [34] Question: Can you discuss the commercial opportunity and acquisition landscape? - Management highlighted progress in integrating with AutoIMS and expanding locations for commercial operations, aiming for at least 40 locations [39][41] Question: What was the impact of the CDK outage on revenue or EBITDA? - The estimated impact was over $600,000 of EBITDA and over $1 million of revenue, but the company still had a strong quarter [46][47] Question: How does the company view competitive intensity? - Management stated that while there are strong competitors, the competitive nature has not changed significantly, and the company continues to perform well [60] Question: What investments are needed to reach targets? - Management indicated that investments in commercial strategy and M&A will impact incremental EBITDA margins, but they expect to deliver about 40% of every incremental dollar of revenue down to EBITDA [66]

ACV Auctions Inc. (ACVA) came out with quarterly earnings of $0.02 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.01 per share when it actually produced break-even earnings, delivering a surprise of -100%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.ACV Auctions, which belongs to t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-40256 ACV Auctions Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 47-2415221 (State or ...

ACV Announces Second Quarter 2024 Results Revenue Growth of 29% and Exceeds the High-End of Guidance • Second quarter revenue of $161 million • Second quarter GAAP net income (loss) of ($17) million • Second quarter non-GAAP net income of $3 million • Second quarter Adjusted EBITDA of $7 million • Expects 2024 revenue of $615 million to $625 million, growth of 28% to 30% YoY, net income (loss) of ($85) million to ($80) million and Adjusted EBITDA of $21 million to $25 million BUFFALO, August 7, 2024 — ACV ( ...

BUFFALO, N.Y., Aug. 07, 2024 (GLOBE NEWSWIRE) -- ACV (NASDAQ:ACVA), a leading digital automotive marketplace and data services partner for dealers and commercial clients, announced today that members of its management team will present at the following upcoming investor conferences: Canaccord Genuity 44th Annual Growth Conference on Tuesday, August 13, 2024 at 4:00 p.m. ETCiti 2024 Global TMT Conference on Wednesday, September 4, 2024 at 4:40 p.m. ETGoldman Sachs Communacopia + Technology Conference on Tues ...

Core Insights - ACV Auctions Inc. (ACVA) is expected to report quarterly earnings of $0.02 per share, reflecting a year-over-year increase of 300% [1] - Projected revenues for ACV Auctions are anticipated to be $156.33 million, which represents a 25.9% increase from the same quarter last year [1] - Analysts have revised the consensus EPS estimate upward by 2.6% over the last 30 days, indicating a collective reassessment of forecasts [1] Revenue Projections - Analysts estimate 'Revenue- Customer assurance' to be $17.34 million, indicating a year-over-year change of +16.7% [2] - The consensus for 'Revenue- Marketplace and service' is projected to reach $139.74 million, suggesting a year-over-year increase of +27.8% [2] - 'Marketplace Units' are forecasted to total 186,524, up from 153,148 in the previous year [2] Stock Performance - ACV Auctions shares have experienced a return of -15.3% over the past month, compared to a -6.7% change in the Zacks S&P 500 composite [3] - With a Zacks Rank 2 (Buy), ACVA is expected to outperform the overall market in the near future [3]

The market expects ACV Auctions Inc. (ACVA) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be rele ...

ACV Auctions Inc. (NASDAQ:ACVA) Q1 2024 Earnings Conference Call May 8, 2024 5:00 AM ET Company Participants George Chamoun - Chief Executive Officer Bill Zerella - Chief Financial Officer Tim Fox - Vice President, Investor Relations Conference Call Participants Bob Labick - CJS Securities Michael Graham - Canaccord Genuity Jamesmichael Sherman-Lewis - Citigroup Rajat Gupta - JP Morgan Nick Jones - Citizens GMP Gary Prestopino - Barrington Research Operator Greetings! And welcome to the ACV Q1 2024 Earning ...

For the quarter ended March 2024, ACV Auctions Inc. (ACVA) reported revenue of $145.69 million, up 21.8% over the same period last year. EPS came in at $0.00, compared to -$0.03 in the year-ago quarter.The reported revenue represents a surprise of +1.08% over the Zacks Consensus Estimate of $144.14 million. With the consensus EPS estimate being $0.01, the EPS surprise was -100.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to det ...