Quarterly ResultAug 6, 2026, 04:14 PM
Cars.com Q2 Net Income +103% to $14.3M; EPS $0.26
AI Summary
Cars.com Inc. reported a significant increase in net income and EPS for the second quarter and first half of 2026. Q2 net income rose 103% to $14.3 million, with diluted EPS increasing to $0.25. The company also continued its share repurchase program, buying back $37.0 million in common stock during the quarter, and implemented an 11% workforce reduction in Q1 2026 to optimize operating expenses.
Key Highlights
- Q2 2026 net income increased 103% to $14.3 million from $7.0 million in Q2 2025.
- Q2 2026 diluted EPS rose to $0.25, up from $0.11 in Q2 2025.
- Total revenue for Q2 2026 was $179.9 million, a slight increase from $178.7 million in Q2 2025.
- Dealer revenue grew 3.07% to $163.3 million in Q2 2026.
- The company repurchased $37.0 million of common stock in Q2 2026, with $116.6 million remaining under the program.
- An $8.5 million expense was recorded in Q1 2026 for an 11% workforce reduction.
- Cash and cash equivalents decreased to $33.3 million as of June 30, 2026, from $56.2 million at year-end 2025.
- The company remains in compliance with debt covenants, with a Senior Secured Net Leverage Ratio of 0.08x.
Price Impact
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