CarGurus Q2 adjusted EBITDA beats estimates

CarGurus

06/08/2026 21:35

Overview
U.S. automotive marketplace's Q2 revenue rose 13% yr/yr
Adjusted EBITDA for Q2 beat analyst expectations
Company repurchased $29.2 mln in shares, over 30% of shares repurchased since Dec 2022

Outlook
CarGurus sees Q3 revenue between $253.5 mln and $258.5 mln
Company expects Q3 non-GAAP EPS from continuing operations of $0.63 to $0.69
CarGurus forecasts full-year revenue growth of 10% to 13% YoY

Result Drivers
AI-POWERED PRODUCTS - Co said expansion of data and predictive intelligence in dealer workflows through AI-powered solutions drove engagement
CONSUMER AI INITIATIVE - Launch of Guru, an AI layer for consumers, advanced strategy to become trusted guide and drove deeper engagement
INTERNATIONAL GROWTH - Co said continued momentum in international business contributed to revenue growth

Company press release: ID:nGNX79jNQM

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
 
$49.19 mln
 
Q2 Adjusted EBITDA
Beat
$84.70 mln
$81.56 mln (13 Analysts)
Q2 Gross Profit
 
$231.10 mln
 
Q2 Operating Expenses
 
$168.10 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for CarGurus, Inc. is $37.81, about 3.8% above its August 5 closing price of $36.41
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)