NASDAQ$CARG
Cargurus Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
CarGurus' financial results for Q1 2020 were announced, demonstrating resilience amidst industry turmoil.
CarGurus reported a 17% increase in total revenue, reaching $157.7 million. GAAP operating income was $12.0 million, and GAAP net income was $12.7 million. The company also highlighted its actions to support dealer customers and its focus on innovation and cost management in response to the COVID-19 pandemic.
- Total revenue increased by 17% year-over-year, reaching $157.7 million.
- GAAP operating income was $12.0 million, while non-GAAP operating income reached $25.1 million.
- GAAP net income was $12.7 million, and non-GAAP net income was $22.1 million.
- CarGurus implemented cost-saving initiatives, including workforce reduction and executive salary cuts, in response to the COVID-19 pandemic.
Headline financials
Revenue & EPS history
Cargurus · Revenue · Quarterly
$158M
Forward guidance
While the macro-economic environment makes it difficult to anticipate the many variables impacting the economy, the industry and CarGurus’ business, recent events are encouraging.
Tailwinds
- Rate of dealer cancellations that peaked in late March and early April has since stabilized.
- CarGurus recently launched contactless sales features in its U.S., Canada and United Kingdom marketplaces.
- CarGurus launched a pilot program of the Delivery service product in Canada and the United Kingdom.
- CarGurus launched WhatsApp text and chat interactions in the United Kingdom.
- CarGurus has been providing information to dealers to help them navigate the global health crisis, stay current on CarGurus product developments and strategize for the months ahead.
Headwinds
- The human and economic toll of the COVID-19 pandemic is staggering.
- A number of states have issued shelter in place or stay-at-home orders and have restricted the ability to buy and sell automobiles.
- CarGurus has announced various fee reductions across its operating marketplaces for April through June 2020.
- CarGurus’ total paying dealers in the U.S. fell by 1,107 during the first quarter of 2020.
- CarGurus announced its decision to cease marketplace operations in Germany, Italy, and Spain, and halt new international expansion efforts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+2.3%
Avg return
Earnings day
+2.7%
Avg return
5 days after
+1.8%
Avg return
30 days after
64%
25 / 39 earnings
Positive
+49.8%
Q4 2021
Best reaction
-27.5%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.9% | -18.1% | -28.1% | |
| Q4 2025 | +3.2% | +3.6% | +15.1% | |
| Q3 2025 | +0.6% | +7.6% | +8.2% | |
| Q1 2025 | +11.2% | +20.4% | +14.4% | |
| Q4 2024 | -17.1% | -17.0% | -19.9% | |
| Q3 2024 | +5.8% | +14.0% | +16.6% | |
| Q2 2024 | +21.8% | +28.5% | +23.2% | |
| Q1 2024 | +9.3% | +10.6% | +18.2% | |
| Q4 2023 | -1.3% | -4.9% | -3.5% | |
| Q3 2023 | +3.6% | +3.2% | +15.4% | |
| Q2 2023 | -7.3% | -7.2% | -5.8% | |
| Q1 2023 | +15.8% | +17.3% | +26.8% | |
| Q4 2022 | +6.4% | +2.4% | +6.4% | |
| Q3 2022 | -10.8% | +3.3% | -6.2% | |
| Q2 2022 | -25.4% | -21.7% | -26.5% | |
| Q1 2022 | -27.5% | -20.1% | -19.7% | |
| Q4 2021 | +49.8% | +50.0% | +33.5% | |
| Q3 2021 | +5.9% | +7.3% | +2.6% | |
| Q2 2021 | +7.5% | +3.5% | +3.3% | |
| Q1 2021 | +11.4% | +17.0% | +7.7% | |
| Q4 2020 | -9.8% | -15.0% | -29.4% | |
| Q3 2020 | +6.5% | +4.5% | +16.2% | |
| Q2 2020 | -2.3% | -10.5% | -24.6% | |
| Q1 2020 | +2.9% | -7.8% | +9.4% | |
| Q4 2019 | -27.3% | -24.3% | -38.8% | |
| Q3 2019 | +5.1% | +10.1% | +12.0% | |
| Q2 2019 | -4.0% | -6.8% | -3.8% | |
| Q1 2019 | -2.0% | -2.8% | -12.5% | |
| Q4 2018 | -5.3% | -6.5% | -6.1% | |
| Q3 2018 | -1.0% | -3.2% | -16.4% | |
| Q2 2018 | +20.3% | +16.1% | +8.1% | |
| Q1 2017 | +1.0% | +2.5% | +5.4% | |
| Q1 2018 | +1.0% | +2.5% | +5.4% | |
| Q2 2017 | +11.4% | +11.7% | +19.2% | |
| Q4 2017 | +11.4% | +11.7% | +19.2% | |
| Q4 2015 | +11.4% | +11.7% | +19.2% | |
| Q4 2016 | +5.0% | +4.3% | +1.9% | |
| Q3 2016 | +5.0% | +4.3% | +1.9% | |
| Q3 2017 | +5.0% | +4.3% | +1.9% | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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