CarGurus (CARG) Surpasses Q3 Earnings and Revenue Estimates

Company Performance - CarGurus reported quarterly earnings of $0.45 per share, exceeding the Zacks Consensus Estimate of$ 0.42 per share, and up from $0.34 per share a year ago, representing an earnings surprise of 7.14% [1] - The company posted revenues of$ 231.36 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.75%, and an increase from year-ago revenues of $219.42 million [2] - Over the last four quarters, CarGurus has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - CarGurus shares have increased approximately 36.1% since the beginning of the year, compared to the S&P 500's gain of 24.3% [3] - The current consensus EPS estimate for the coming quarter is$ 0.46 on revenues of $224.77 million, and for the current fiscal year, it is$ 1.61 on revenues of $882.21 million [7] Industry Outlook - The Automotive - Replacement Parts industry, to which CarGurus belongs, is currently ranked in the bottom 33% of over 250 Zacks industries, indicating potential challenges ahead [8] - The outlook for the industry can significantly impact the performance of CarGurus stock, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]