BRIEF-Cars.Com Provides Update On Business Initiatives, Raises Share Repurchase Target And Reaffirms Guidance

Reuters06:08

April 9 (Reuters) - Cars.com Inc CARS.N:

CARS.COM PROVIDES UPDATE ON BUSINESS INITIATIVES, RAISES SHARE REPURCHASE TARGET AND REAFFIRMS GUIDANCE
CARS.COM INITIATES COST REDUCTION PROGRAM INCLUDING 11% REDUCTION IN FULL TIME ROLES
ACTIONS EXPECTED TO GENERATE $25-$30 MILLION IN ANNUALIZED COST SAVINGS IN 2027
COST INITIATIVE TO COMPLETE BY EARLY Q2 2026 WITH $8.5-$9 MILLION ONE-TIME CHARGES
CARS.COM REAFFIRMS Q1 2026 AND FY2026 GUIDANCE
RAISES FULL-YEAR SHARE REPURCHASE TARGET TO $90 MILLION
Q1 EARNINGS PER SHARE VIEW $0.12, REVENUE VIEW $180.5 MILLION -- LSEG IBES DATA
FY2026 EARNINGS PER SHARE VIEW $0.74, REVENUE VIEW $730.5 MILLION -- LSEG IBES DATA

Source text: ID:nPn9xlKG7a

Further company coverage: CARS.N

((Reuters.Briefs@thomsonreuters.com;))

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