ACV Auctions reports Q2 EPS (10c), consensus (14c)

Reports Q2 revenue $124M, consensus $119.85M. “We are very pleased with our strong second quarter results, with revenue once again above our guidance range and, along with year-over-year margin expansion, resulted in Adjusted EBITDA also exceeding our guidance range,” said George Chamoun, CEO of ACV. “While overall market conditions remain constrained relative to historical levels, new-vehicle production and retail sales are recovering. And, along with ACV’s share gains we delivered another record revenue quarter. Our dealer partnership network and competitive moat continued to expand, together with strong adoption of our broad suite of solutions. We achieved this while expanding margins and carefully managing our cost structure,” continued Chamoun. “We have again raised full-year guidance reflecting our strong second quarter performance. We believe ACV remains well positioned to deliver sustainable growth as end-markets further recover, while also continuing to scale our business model,” concluded Chamoun.