ACV Auctions Inc reports results for the quarter ended in June - Earnings Summary

ACV Auctions

07/08/2024 23:31

* ACV Auctions Inc  ACVA.OQ  reported a quarterly adjusted
loss
of 10 cents​​ per share for the quarter ended in June, identical
to the same quarter last year.  The mean expectation of
twelve analysts for the quarter was for a loss of 11 cents per
share. Wall Street expected results to range from -12 cents
to -10 cents per share.
    * Revenue rose 29.3% to $160.62 million from a year ago;
analysts
expected $156.24 million. 
    * ACV Auctions Inc's reported EPS for the quarter was a loss
of 10
cents​.
    * The company reported a quarterly loss of $17.06 million.
    * ACV Auctions Inc shares had fallen by 17.3% this
quarter and
lost 0.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 33.7%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the online
services
peer group is also "buy"

Wall Street's median 12-month price target for ACV Auctions Inc
is $22.00 
This summary was machine generated from LSEG data August 7 at
10:30 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.11          -0.10          Beat
 Mar. 31 2024      -0.09          -0.12          Missed
 Dec. 31 2023      -0.15          -0.14          Beat
 Sep. 30 2023      -0.15          -0.11          Beat