Core Insights - Cars.com Inc. reported a revenue growth of 6% year-over-year, reaching $178.9 million in Q2 2024, with OEM and National revenue achieving a record growth of 28% year-over-year [1][4][2] - The company generated $69 million in cash flows from operating activities year-to-date and plans to return 50% of its second half 2024 free cash flow to shareholders through share repurchases [1][9][11] - The adjusted EBITDA for Q2 2024 was $50.4 million, representing 28% of revenue, an increase of 10% year-over-year [2][8] Financial Performance - Revenue for Q2 2024 was $178.9 million, up $10.7 million or 6.4% year-over-year [2] - Net income for Q2 2024 was $11.4 million, or $0.17 per diluted share, a significant decrease from $94.1 million, or $1.37 per diluted share, in the prior year due to a prior year's tax asset valuation release [7][2] - Adjusted net income for Q2 2024 was $26 million, or $0.38 per diluted share, compared to $22.5 million, or $0.33 per diluted share, in the prior year [7][2] Operational Highlights - The dealer customer base grew to 19,390, up from 19,381 in the previous quarter, while average revenue per dealer (ARPD) increased slightly to $2,474 [3][5] - Average monthly unique visitors were 26.1 million, with total traffic reaching 158.1 million, reflecting a 1% increase year-over-year [3][8] - Subscription-based dealer revenue grew over 4% year-over-year, driven by increased adoption of digital products and the D2C Media acquisition [4][5] Cash Flow and Balance Sheet - Net cash provided by operating activities for the first six months of 2024 was $68.7 million, compared to $56.2 million in the prior year [9] - The company repaid $15 million of debt, reducing total debt outstanding to $475 million as of June 30, 2024, with total liquidity of $304.1 million [10][11] - Free cash flow for the first six months totaled $56.4 million, an increase from $45.6 million in 2023 [9] Future Outlook - The company expects Q3 2024 revenue to be between $178 million and $181 million, reflecting year-over-year growth of 2% to 4% [13] - The fiscal year 2024 revenue growth outlook has been revised to a range of 4.5% to 5.5%, down from the previous range of 6.0% to 8.0% [15] - The adjusted EBITDA margin outlook for fiscal year 2024 remains at 28.0% to 30.0% [16]

The used market has followed a similar path. Over the last five years, the average price of used vehicles has surged by 34%, from $21,480 to $28,815, and the ongoing inventory shortage has created a competitive market with 1.5 million fewer used vehicles available. The first half of 2024 has offered some relief to buyers, as prices have decreased by 5% compared to the first half of 2023, saving consumers over $1,600. This decrease reflects a normalization from the peak prices seen in 2023, which were driven ...

Core Insights - The earnings report for Cars.com is anticipated to show a significant decline in earnings per share (EPS) of $0.47, representing a year-over-year decrease of 65.7% [7] - The consensus revenue estimate for Cars.com is $181.51 million, reflecting a 7.9% increase from the previous year [2] - The Zacks Earnings ESP for Cars.com is 0%, indicating no recent analyst revisions that differ from the consensus estimate, making it challenging to predict an earnings beat [11][12] Earnings Expectations - Cars.com has a history of beating consensus EPS estimates only once in the last four quarters [14] - The consensus EPS estimate has remained unchanged over the last 30 days, suggesting stability in analyst expectations [8] - A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a strong Zacks Rank [10] Industry Comparisons - Groupon, another player in the internet-commerce industry, is expected to report an EPS of $0.01 for the quarter ended June 2024, indicating a year-over-year increase of 90% [17] - Groupon's revenue estimate is $121.7 million, which is a 5.7% decline from the previous year [17] - Groupon's Earnings ESP is significantly positive at 3100.00%, suggesting a high likelihood of beating the consensus EPS estimate [26]

CHICAGO, July 25, 2024 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce Inc" or the "Company"), an audience-driven technology company empowering the automotive industry, today announced that it expects to report its financial results for the second quarter ended June 30, 2024, on Thursday, August 8, 2024. The Company will host a conference call with a live webcast at 8:00 a.m. CT/9:00 a.m. ET on the same day to discuss the results. The conference call will be hosted by Chief Executive Office ...

Below are three undervalued stocks under $50 that have the ability to grow very fast. Let's dive in to see what sets them apart from their more expensive peers. Healthcare facility operator Select Medical Holdings (NYSE:SEM) is the first discounted stock to consider. The operator of long-term acute care and in-patient rehabilitation hospitals, occupational health, and physical therapy clinics is one of the biggest in the space. It operates 107 hospitals in 28 states, 33 rehab facilities in 13 states, over 1 ...

Therefore, the Zacks rating upgrade for Cars.com basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings es ...

10%.3 But 60% of Americans say that products need to be built in the U.S. by a company headquartered here to substantially contribute to the American economy.4 However, the success of Alabama's auto industry demonstrates that foreign investments are also playing a crucial role in supporting and growing local economies. Ford has 12 vehicles on the Index, assembled in Illinois, Kentucky, Michigan and Missouri. The Lincoln Corsair at No. 29 and Ford Mustang at No. 31 are Ford's highest-ranking vehicles. Contra ...

U.S.-Based Auto Production Facilities Are Up 144% Since 2020 Assembly Locations for the Top 10 Vehicles on Cars.com's 2024 American-Made Index Honda's Odyssey and Ridgeline — boasting the most American-made minivan and pickup truck — came in at No. 5 and No. 6., while the Toyota Camry and Jeep Gladiator each jumped 19 spots to land at No. 7 and No. 8. The Lexus TX makes a memorable entrance to the index, landing at No. 10. The complete list is available at Cars.com/AMI. Over 50% of Vehicles on Index Assembl ...

Key May Market Highlights On Average, Used Cars Cost About $20,000 Less Than New Vehicles — Largest Price Gap Since 2018 "The rise in new-car sales, especially during seasonal promotions like Memorial Day, boosts the used-car market. More new-car inventory means more new-car sales, which means more trade-ins, increasing used-car inventory and bringing prices down — and that's just what we're seeing this month," said Rebecca Lindland, senior director of industry data and insights at Cars Commerce. "On averag ...

CHICAGO, June 11, 2024 /PRNewswire/ -- U.S. News & World Report, the global authority in rankings and consumer advice, has named Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce Inc"), an audience-driven technology company empowering the automotive industry, as one of the Best Companies to Work For. This is the second consecutive year Cars Commerce has been recognized by U.S. News, and follows accolades from Built In, a leading recruitment site, which also listed Cars Commerce as a 2024 Best Place to Work. ...