CarGurus (CARG) Misses Q3 EPS by 8c; Raises Outlook

CarGurus (NASDAQ: CARG) reported Q3 EPS of $0.14, $0.08 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $147.5 million versus the consensus estimate of $135.91 million.

“Despite the ongoing uncertainty amidst the COVID-19 pandemic, CarGurus generated strong results in the third quarter that continue to demonstrate our business’s flexibility and resilience,” said Langley Steinert, Founder and Chief Executive Officer of CarGurus. “Since March, our employees have navigated work-from-home environments and often challenging circumstances and I want to thank them for their tremendous effort. As a result of their hard work, CarGurus’ financial performance was well above both our revenue and profit guidance for the quarter driven by improved dealer retention versus Q2, and continued efficiency of our marketing investments.”

GUIDANCE:

CarGurus sees Q4 2020 EPS of $0.26-$0.28, versus the consensus of $0.09. CarGurus sees Q4 2020 revenue of $146.1-149.1 million, versus the consensus of $139.33 million.

CarGurus sees FY2020 EPS of $1.01-$1.03, versus the consensus of $0.69. CarGurus sees FY2020 revenue of $546-549 million, versus the consensus of $527.6 million.

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

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