Cars.com

Cars.com, Inc. engages in the provision of automotive products and services through online automotive classifieds. It sells online subscription advertising products to car dealerships. The company was founded by Mitch Golub, William Swislow, and Alex Vetter in 1998 and is headquartered in Chicago, IL.

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Cars.com reports robust 2022 performance, eyes growth amidst challenges

Cars.com's strong financial performance in 2022 underscores its market resilience and strategic positioning.
While cautious about certain revenue streams, the company anticipates growth opportunities in dealer revenue and advertising.
Maintaining a disciplined capital allocation approach and focus on free cash flow generation bode well for future financial health.

Cars.com reports 6% revenue growth in Q1 2023 earnings call

Cars.com delivered solid Q1 2023 results with revenue growth and adjusted EBITDA margin exceeding expectations.
While facing challenges such as increased operating expenses and a slight decline in dealer customers, the company remains optimistic about future growth.
By focusing on new product offerings, customer retention, and cost management, Cars.com aims to sustain revenue growth and improve profitability.

Cars.com reports solid Q2 earnings, eyes new revenue streams

Cars.com delivered a strong Q2 performance with revenue growth, EBITDA margin improvement, and successful marketplace initiatives.
Despite challenges in EV demand and market dynamics, opportunities lie in new revenue streams and strong feedback for future growth.
Financially sound with debt reduction and share repurchases, Cars.com is well-positioned for growth and investor confidence.
Strategic AI integration, successful branding, and credit rating upgrade showcase Cars.com's resilience and market adaptability.

Cars.com reports solid Q3 growth, eyes M&A and digital strategies

Cars.com's Q3 earnings reflect steady growth post-COVID, driven by investments in business resilience. The company's focus on organic traffic, website solutions, and technology positions it well for future success amidst evolving market challenges and opportunities.

Cars.com reports robust Q4 earnings, eyes growth amidst challenges

Cars.com's Q4 2023 showcased strong financials and operational growth, exceeding expectations.
Strategic initiatives and strong customer engagement position the company for continued success.
Challenges in integrating acquisitions and balancing profitability require careful navigation.
Opportunities in cost advantages, endorsements, and market interest pave the way for future growth.

Cars.com reports robust Q1 earnings, eyes growth through OEM investments

Cars.com's Q1 2024 performance showcased revenue growth, strong EBITDA margin, and customer base expansion.
While facing challenges like attrition and acquisition impacts, the company leverages opportunities in OEM investments and product adoption.
Strengthening advertising tied to EVs and upcoming investor engagements highlight strategic focus areas for future growth.
Overall, Cars.com's diversified approach and product successes position it well for continued growth and market relevance.

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Cars.com, Inc. engages in the provision of an automotive marketplace platform and digital solutions that connect car shoppers with sellers. Its portfolio of brands includes Dealer Inspire, FUEL, DealerRater, CreditIQ, and NewCars.com. The company was founded by Mitch Golub, William Swislow, and T. Alex Vetter in 1998 and is headquartered in Chicago, IL.

-  The 2024 Seltos was named a finalist for the overall Best Car of 2024 category -  The 2024 Sorento and Telluride were both nominated for the Best SUV of 2024 IRVINE, Calif. , Feb. 7, 2024 /PRNewswire/ -- The 2024 Kia Telluride was named Cars.com's Best Family Car of 2024.

KIA TELLURIDE NAMED 'BEST FAMILY CAR OF 2024' BY CARS.COM

Cars.com Automotive Experts Call This Year's Feature-Filled Winners "Pin-You-to-Your-Seat Fun," "Massive Marriage Saver" and "A New Bar for What Consumers Should Expect" CHICAGO , Feb. 7, 2024 /PRNewswire/ -- Car-shopping marketplace Cars.com®  (NYSE: CARS) today announced the winners of its annual Best Of Awards , which recognize the top vehicles in six categories: Best Family Car, Best Luxury Car, Best SUV, Best Electric Vehicle, Best Pickup Truck and the highest honor: Best Car of the Year. This year, Chevrolet's 2024 Trax earned the coveted Best Car of 2024 honor.

Cars.com Reveals 2024 Best Of Awards: Budget-Friendly Chevrolet Trax Takes Top Spot as Best Car of the Year

CHICAGO , Jan. 30, 2024 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a " Cars Commerce Inc. "), an audience-driven technology company empowering automotive, today shared the top three dealer pain points in 2024 and how the company plans to help its customers solve these challenges to unleash growth. This news comes ahead of the 2024 NADA Show in Las Vegas Feb. 2-4, where dealers and partners can experience the Cars Commerce platform and its connected solutions live in booth #3421W.

Cars Commerce Addresses Automotive Retailers' Top Three Pain Points to Help Them Unleash Growth in 2024

CHICAGO , Jan. 24, 2024 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a " Cars Commerce Inc. "), an audience-driven technology company empowering automotive, today announced that FordDirect has selected AccuTrade , a Cars Commerce solution, as its preferred vehicle acquisition and trade and appraisal solution for The Shop , a newly launched e-commerce platform for 3000+ Ford dealers and Lincoln retailers. More than half of car buyers plan to trade-in a vehicle prior to purchase, and AccuTrade speeds transaction time by enabling digital instant offers for consumers while equipping everyone in the dealership with turnkey and transparent acquisition solutions that complete an accurate appraisal in under five minutes – from anywhere.

FordDirect Selects AccuTrade as its Preferred Vehicle Acquisition and Trade and Appraisal Solution For Its 3000+ U.S. Ford Dealers and Lincoln Retailers to Turn More Cars for More Profit

Affordable, Available and American-Made Stand Out as Key Themes Heading Into New Year CHICAGO , Jan. 3, 2024 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a " Cars Commerce Inc. "), an audience-driven technology company empowering automotive, today released its  2024 Automotive Trends . Economic uncertainty and tight inventory levels remain top concerns in 2024, but Gen Z provides a bright spot for retailers, with 80% of young shoppers moving from online to offline and opting to finish the deal in the showroom.1 American shoppers are supporting American workers as we head into the new year, with almost 50% willing to spend more on locally made vehicles.2 And despite the government's best efforts, consumers are eyeing EVs, but few are committing.

2024 Automotive Trends: Cars Commerce Explores Driving Forces Transforming Car Buying and Selling

Cars.com Experience Report Emphasizes Crucial Role of Dealership Engagement in Building Auto Brand Reputation CHICAGO , Nov. 30, 2023 /PRNewswire/ --  Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce"), an audience-driven technology company empowering the automotive industry, today revealed the major automotive brands that have the best reputation amongst consumers. The results were determined using data from the company's exclusive Experience Report, which analyzes consumer reviews on its marketplace about dealerships nationwide.

13 Million Reviews Don't Lie: Cars.com Reveals Top Automakers With the Best Reputation

CHICAGO , Nov. 9, 2023 /PRNewswire/ -- Cars.com Inc. d/b/a Cars Commerce (NYSE: CARS) ("Cars Commerce"), an audience-driven technology company empowering the automotive industry, today announced that Alex Vetter, Chief Executive Officer of Cars Commerce and Sonia Jain, Chief Financial Officer of Cars Commerce will host meetings at the following three investor conferences in November: Conference: RBC Capital Markets Global Technology, Internet, Media and Telecommunications Conference Date:  Wednesday, November 15 Fireside Chat:  A webcast of the 1:50 p.m. ET fireside chat will be accessible on the Events  section of the Cars.com website and will be archived on that website Location: InterContinental New York Barclay Hotel, New York Conference: D.A.

Cars.com to Participate in Three Investor Conferences in November

Cars.com Inc. (NYSE:CARS ) Q3 2023 Earnings Conference Call November 2, 2023 9:00 AM ET Company Participants Robbin Moore-Randolph - Director of Investor Relations Alex Vetter - Chief Executive Officer Sonia Jain - Chief Financial Officer Conference Call Participants Thomas White - D.A. Davidson Rajat Gupta - JPMorgan Naved Khan - B.

Cars.com Inc. (CARS) Q3 2023 Earnings Call Transcript

The headline numbers for Cars.com (CARS) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Cars.com (CARS) Q3 Earnings: A Look at Key Metrics

Cars.com Inc. CARS, -1.18% stock rose 2.3% in premarket trades Thursday after the online automobile marketplace swung to a third-quarter profit. The company reported third-quarter net income of $4.5 million, or 7 cents a share, after a net loss of $2.9 million, or 4 cents a share, in the prior year's quarter.

Cars.com stock rises after online automobile marketplace swings to Q3 profit

Launched Cars Commerce, Uniting the Company's B2B Brands Delivered 6% Total Revenue Growth and 9% ARPD Year-Over-Year Growth Acquired D2C Media Inc., Further Expanding the Cars Commerce Platform Into Canada CHICAGO , Nov. 2, 2023 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce" or "the "Company"), an audience-driven technology company empowering the automotive industry, today released its financial results for the third quarter ended September 30, 2023. Q3 2023 Financial and Key Metric Highlights Revenue of $174.3 million, up $9.7 million, or 6% year-over-year Net income of $4.5 million, or $0.07 per diluted share, compared to a Net loss of $2.9 million, or $0.04 per diluted share, in the prior year Adjusted EBITDA of $49.5 million, or 28% of Revenue, compared to $49.9 million a year ago Average Monthly Unique Visitors ("UVs") of 26.0 million, compared to 27.3 million a year ago Traffic ("Visits") of 151.4 million, compared to 150.4 million a year ago Monthly Average Revenue Per Dealer ("ARPD") of $2,548, up 9% year-over-year Dealer Customers were 18,715 as of September 30, 2023, compared to 18,785 as of June 30, 2023 1 Operational Highlights United the Company's B2B brands under Cars Commerce, reinforcing its platform strategy and empowering the industry with a connected portfolio spanning pretail, retail, and post-sale activities Increased Website customers to over 6,300, an 8% increase year-over-year and website upsells grew by more than 1,000 from a year ago; Accu-Trade Connected units increased to over 850, up from 400 a year ago Completed the 2023 Marketplace Repackaging initiative, a significant driver of the Company's 9% year-over-year ARPD growth; results have been strong with nearly 70% of dealer customers opting into one of the upper tier packages Acquired D2C Media Inc, a leading provider of website and digital advertising solutions in Canada with approximately 1,000 customers and it supports acceleration of Cars Commerce's profitable growth trajectory.

Cars.com Inc. Reports Third Quarter 2023 Results

CHICAGO , Nov. 2, 2023 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) (d/b/a "Cars Commerce" or the "Company"), an audience-driven technology company empowering the automotive industry, today announced the acquisition of D2C Media Inc. ("D2C"), a leading automotive technology and digital solutions provider in Canada. The Company paid CAD $105 million in cash (USD $76 million) at closing, which was funded by a combination of cash on hand and borrowings under the Company's existing revolving credit facility.

Cars.com Inc. Acquires D2C Media Inc., Expanding Cars Commerce Platform into Canada in Accretive Transaction

CHICAGO , Oct. 25, 2023 /PRNewswire/ -- Cars.com Inc.  (NYSE: CARS) (d/b/a "Cars Commerce" or "the "Company"), an audience-driven technology company empowering the automotive industry, today announced that it expects to report its financial results for the third quarter ended September 30, 2023, on Thursday, November 2, 2023. The Company will host a conference call with a live webcast at 8:00 a.m.

Cars.com to Announce Third Quarter 2023 Financial Results

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5 Online Retailers to Buy on Solid Sales in September

Cars.com is a leading automotive platform that has been facing challenges as a result of inventory shortages and long delays. However, with improving inventory, growing value-added services, and repricing initiatives, there is better visibility on CARS' ability to drive mid-single-digit growth and sustainable margins. We initiate at Buy and ascribe a target price of $19 at 9.3x EV/ Fwd EBITDA.

Cars.com: Driving In Cruise Control

Cars.com Inc. connects buyers and sellers of cars in the U.S. and offers value-added services. The U.S. market for used automobiles is expected to reach $302 billion by 2027.

Cars.com Improves Guidance As Car Market Shifts (Rating Upgrade)

Compact Seltos Makes a Big Impression on Editors Refreshed 2024 Seltos stays ahead of the pack with substantial refinements to design, performance and technology Seltos SX praised for long list of available features and amenities at affordable price point IRVINE, Calif. , Oct. 20, 2023 /PRNewswire/ -- The 2024 Kia Seltos SX has been named the winner of the 2023 Affordable SUV Challenge by Cars.com, where it beat five other popular subcompact SUVs priced around $30,000.

2024 KIA SELTOS SX NAMED WINNER IN 2023 AFFORDABLE SUV CHALLENGE BY CARS.COM

CHICAGO , Oct. 17, 2023 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS), an audience-driven technology company empowering automotive, today announced a new enterprise brand name. The company is uniting its various commercial brand names under Cars Commerce and doubling down on its platform strategy to better connect the industry with a simplified and tierless technology that spans pretail, retail and post-sale activities.

CARS Rebrands Commercial Enterprise as Cars Commerce, the First Connected Platform for Automotive That Spans Pretail, Retail and Post-Sale

Truck prices grew 50% faster than average vehicle prices year over year, but for many consumers, the real value is in the perks CHICAGO , Sept. 27, 2023 /PRNewswire/ -- Car-shopping marketplace Cars.com ™ (NYSE: CARS) today released its first-ever Pickup Truck Buying Guide , an in-depth, comprehensive review of America's 2023 truck-market landscape that speaks to Americans' enduring love for pickups.

CARS.COM FINDS AMERICANS PAY A PREMIUM FOR PICKUP TRUCK 'COOL FACTOR'

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-  2023 Kia EV6 was one of only seven vehicles to receive perfect scores from the Cars.com's child passenger safety technicians IRVINE, Calif. , Aug. 3, 2023 /PRNewswire/ -- The 2023 Kia EV6 straight A's on Cars.com's 2023 Car Seat Fit Report Card, highlighting vehicles that received top scores from the outlet's certified child passenger safety technicians.

KIA EV6 RECEIVES STRAIGHT A'S ON CARS.COM'S 2023 CAR SEAT FIT REPORT CARD

Delivered Second Quarter Guidance Achieved 6% ARPD and 5% Traffic Year-Over-Year Growth Generated $56 Million of Year-To-Date Cash Flow From Operations CHICAGO , Aug. 3, 2023 /PRNewswire/ -- Cars.com Inc. (NYSE: CARS) ("CARS" or the "Company"), the leading digital automotive platform that provides a robust set of digital solutions, today released its financial results for the second quarter ended June 30, 2023. Q2 2023 Financial and Key Metric Highlights Revenue of $168.2 million, up $5.3 million, or 3% year-over-year Net income of $94.1 million, or $1.37 per diluted share, compared to $5.5 million, or $0.08 per diluted share, in the prior year.

CARS Reports Second Quarter 2023 Results

It's Not Easy: 60% of Parents Have Incorrectly Installed a Car Seat, With Nearly Half Not Noticing for Over a Week CHICAGO , Aug. 1, 2023 /PRNewswire/ -- Car-shopping marketplace  Cars.com™ (NYSE: CARS) found more than 40% of parents purchased a new vehicle as a result of welcoming a third child to the family.1 Cars.com released its 2023 Car Seat Fit Report Card to help current and expecting parents navigate the challenges of buying a vehicle that easily and safely accommodates car seats for their growing family. This in-depth resource identifies vehicles that best fit car seats for infants, toddlers and young children.

News for Cars.com Stock (CARS)