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ACV Auctions (ACVA) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
BUFFALO, N.Y., July 24, 2024 (GLOBE NEWSWIRE) -- ACV (Nasdaq: ACVA), a leading digital automotive marketplace and data services partner for dealers and commercial clients, announced today that the Company will report second quarter 2024 financial results after market close and host a conference call at 5:00 p.m. ET on Wednesday, August 7, 2024.
While the top- and bottom-line numbers for ACV Auctions (ACVA) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
ACV Auctions Inc. (ACVA) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to loss of $0.03 per share a year ago.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for ACV Auctions (ACVA), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2024.
ACV Auctions Inc. (ACVA) Q4 2023 Earnings Call Transcript
ACV Auctions' actual EBITDA loss for the recent quarter was narrower than both its management guidance and the consensus estimate. ACVA expects its top line to expand by +28.5% to $617.5 million in 2024, which is +7% better than the sell side's consensus forecast. I change my rating for ACVA from a Hold to a Buy, after assessing its recent quarterly performance and its financial prospects.
Industry trends like improving dealer volumes are giving ACV a tailwind. The company expects to turn an adjusted profit this year.
The headline numbers for ACV Auctions Inc. (ACVA) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
ACV Auctions Inc. (ACVA) came out with a quarterly loss of $0.04 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.16 per share a year ago.