RumbleON reports Q4 EPS (68c), consensus (14c)

Reports Q4 revenue $ $369.51M, consensus $398.55M. Marshall Chesrown, RumbleOn’s Chairman and Chief Executive Officer commented, "Our fourth quarter results reflect forward-looking actions taken to better position the business for 2023 and beyond. We are aggressively addressing macroeconomic uncertainties, as we operate in an environment of normalized inventory levels and associated margin pressures. We are building a solid foundation for long-term profitable growth, all while making prudent, timely and disciplined investments in technology and customer experience improvements online and in our stores. Further, the fulfillment process being rolled out will enable our operations and teams to become more agile to meet customer demand through diligent on time inventory management and customer selection and service." "With an ongoing focus on maintaining financial health and a strong balance sheet, we remain committed to a completely self-funded business model for growth. In the fourth quarter, we pre-paid $15M in principal and recently signed an engagement letter with JP Morgan to review our balance sheet initiatives and options for 2023. As we look to 2023 and beyond, we are continuing to implement our five pillar strategy to achieve our near and long term financial targets, driving sustainable shareholder value," concluded Chesrown.