CarGurus (CARG) Tops Q2 EPS by 19c; Guides Above Views

CarGurus (NASDAQ: CARG) reported Q2 EPS of $0.19, $0.19 better than the analyst estimate of $0.00. Revenue for the quarter came in at $94.7 million versus the consensus estimate of $86.32 million.

“Although our industry and our business are facing unprecedented uncertainty amidst the COVID-19 pandemic, CarGurus generated strong results in the second quarter that demonstrate our business’s flexibility and resilience,” said Langley Steinert, Founder and Chief Executive Officer of CarGurus. “Over the last several months, our employees have produced remarkable successes all while navigating work-from-home environments and often-challenging circumstances. As a result of their hard work, we continue to deliver what we believe to be market-leading innovation and return on investment to our dealer customers. Our business showed several signs of recovery in the second quarter as consumer demand increased significantly in May and June, yielding strong lead generation and helping dealers rebuild their sales pipelines. We began a broad rollout of our Realtime Performance Marketing suite, generated record engagement on our consumer financing platform, and developed additional elements of the online transaction to offer more digital retail services in our marketplace.”

GUIDANCE:

CarGurus sees Q3 2020 EPS of $0.21-$0.23, versus the consensus of $0.08. CarGurus sees Q3 2020 revenue of $132-135 million, versus the consensus of $124.4 million.

CarGurus sees FY2020 EPS of $0.66-$0.69, versus the consensus of $0.44. CarGurus sees FY2020 revenue of $518-524 million, versus the consensus of $516.7 million.

For earnings history and earnings-related data on CarGurus (CARG) click here.

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