CARS - Cars.com reports Q2 earnings beat; issues Q3 and 2H guidance

August, 03 2022 08:42 AM Cars.com Inc.

Cars.com press release ( NYSE: CARS ): Q2 GAAP EPS of $0.08 beats by $0.04 .
Revenue of $162.9M (+4.7% Y/Y) beats by $1.15M .
Adjusted EBITDA of $45.3M, or 28% of revenue, down $3.2M, year-over-year.
Average Monthly Unique Visitors of 27.1M, up 3% year-over-year.
Traffic of 148.0M, down 7% year-over-year.
Monthly Average Revenue Per Dealer of $2,326, up 1% from $2,299 in the prior year period.
Dealer Customers of 19,517 as of June 30, 2022, 17 higher compared to 19,500 as of March 31, 2022, and up 672, or 4%, compared to June 30, 2021.
For the third quarter of 2022, the company expects to deliver Revenue of approximately $163.5 million to $165.5 million vs. consensus of $168.40M, representing year-over-year and sequential growth.
Adjusted EBITDA margin for the third quarter is expected to be between 29% and 31%.
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.

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