ACV Auctions Inc. (ACVA) Reports Break-Even Earnings for Q1

Earnings Performance - ACV Auctions reported break-even quarterly earnings per share, missing the Zacks Consensus Estimate of $0.01, compared to a loss of$ 0.03 per share a year ago [1] - The company's earnings surprise was -100% for the quarter, with no surprise in the previous quarter as it met the expected loss of $0.04 per share [1] - Over the last four quarters, ACV Auctions surpassed consensus EPS estimates twice [1] Revenue Performance - ACV Auctions posted revenues of$ 145.69 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 1.08% and showing a year-over-year increase from $119.63 million [1] - The company has topped consensus revenue estimates three times over the last four quarters [1] Stock Performance - ACV Auctions shares have gained 17.2% since the beginning of the year, outperforming the S&P 500's gain of 8.8% [2] Earnings Outlook - The company's earnings outlook, including current consensus expectations and recent changes, is a key factor for future stock performance [3] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] Estimate Revisions and Zacks Rank - Ahead of the earnings release, the estimate revisions trend for ACV Auctions was mixed, resulting in a Zacks Rank 3 (Hold) [4] - The current consensus EPS estimate is$ 0.03 on $156.7 million in revenues for the coming quarter and$ 0.07 on $612.63 million in revenues for the current fiscal year [4] Industry Impact - The Internet - Commerce industry, to which ACV Auctions belongs, is currently in the top 26% of the Zacks industries, with the top 50% outperforming the bottom 50% by more than 2 to 1 [5] Peer Comparison - Cars.com, another company in the same industry, is expected to report quarterly earnings of$ 0.08 per share, representing a year-over-year change of -52.9%, with revenues expected to be $179.81 million, up 7.6% from the year-ago quarter [5][6]