CARS - Cars.com Inc. (CARS) Q4 2023 Earnings Call Transcript

2024-02-22 15:39:03 ET

Cars.com Inc. (CARS)

Q4 2023 Earnings Conference Call

February 22, 2024 09:00 ET

Company Participants

Robbin Randolph - Director, Investor Relations

Alex Vetter - Chief Executive Officer

Sonia Jain - Chief Financial Officer

Conference Call Participants

Rajat Gupta - JPMorgan

Thomas White - D.A. Davidson

Naved Khan - B. Riley Securities

Kunal Madhukar - UBS

Doug Arthur - Huber Research

Gary Prestopino - Barrington Research

Marvin Fong - BTIG

Presentation

Operator

Good morning and welcome to Cars.com Inc.’s Fourth Quarter and Full Year 2023 Earnings Conference Call. This call is being recorded and a live webcast and accompanying slides can be found at investor@cars.com. An archive of the webcast will be available at cars.com Investor Relations website.

I’d now like to turn the call over to Robbin Randolph, Director of Investor Relations. Thank you. Please go ahead.

Robbin Randolph

Good morning, everyone and thank you for joining us. It’s my pleasure to welcome you to the Cars.com Inc.’s fourth quarter and full year 2023 conference call. With me this morning are Alex Vetter, CEO; and Sonia Jain, CFO. Alex will start by discussing the business highlights from our fourth quarter and full year, then Sonia will discuss our financial results in greater detail along with our 2024 outlook. We’ll finish the call with Q&A.

Before I turn the call over to Alex, I’d like to draw your attention to our forward-looking statements and the description and definition of non-GAAP financial measures, which can be found in our presentation. We will be discussing certain non-GAAP financial measures today, including adjusted EBITDA, adjusted EBITDA margin, adjusted operating expenses and free cash flow. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures can be found in the financial tables included with our earnings press release and in the appendix of our presentation....

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