Cazoo shares surge nearly 200% on strong Q2 earnings

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Cazoo shares surge nearly 200% on strong Q2 earnings

seekingalpha2022-08-02

deepblue4you/iStock via Getty Images Cazoo (NYSE:CZOO) shares shot over 180% to the upside after reporting record revenues for the second quarter. The UK-based online auto retailer reported a 144.9% ...

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Indu
·2022-08-02
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The UK-based online auto retailer reported a 144.9% ...</p>\n\n<a href=\"https://seekingalpha.com/news/3864699-cazoo-shares-surge-nearly-200-on-strong-q2-earnings\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cazoo shares surge nearly 200% on strong Q2 earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCazoo shares surge nearly 200% on strong Q2 earnings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-02 22:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3864699-cazoo-shares-surge-nearly-200-on-strong-q2-earnings><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>deepblue4you/iStock via Getty Images  Cazoo (NYSE:CZOO) shares shot over 180% to the upside after reporting record revenues for the second quarter. The UK-based online auto retailer reported a 144.9% ...</p>\n\n<a href=\"https://seekingalpha.com/news/3864699-cazoo-shares-surge-nearly-200-on-strong-q2-earnings\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CZOO","symbol_name":"Cazoo","start_time":0,"source_url":"https://seekingalpha.com/news/3864699-cazoo-shares-surge-nearly-200-on-strong-q2-earnings","article_id":"2256664675","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2256664675","pubTimestamp":1659449558,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"deepblue4you/iStock via Getty Images  Cazoo (NYSE:CZOO) shares shot over 180% to the upside after re","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"CZOO":"Cazoo","QTWO":"Q2 Holdings Inc"},"translate_title":"Cazoo股价因第二季度强劲收益飙升近200%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CZOO":1,"QTWO":1},"content_text":"deepblue4you/iStock via Getty Images  Cazoo (NYSE:CZOO) shares shot over 180% to the upside after reporting record revenues for the second quarter. The UK-based online auto retailer reported a 144.9% increase in revenue from the prior year to £333M, bolstered by a 124% increase in vehicles sold. Gross profit per unit increased to £309 from £185 the prior quarter. “IWe achieved record revenues and retail unit sales in Q2 and grew our market share significantly, despite the tough macroeconomic backdrop, as the consumer shift towards online car buying continues to accelerate,” CEO Alex Chesterman OBE said.”Despite having launched only two and half years ago, we have now sold over 80,000 retail units entirely online, including over 30,000 in the first half of this year and we achieved record revenues in H1 of £628m, up 153% YoY, as consumers continue to embrace the selection, value, transparency and convenience of our proposition.” He added that the company is pushing towards its much sought-after profitability, with strong sales and improving unit margins encouraging management on that path.  “Our Q2 performance gives me confidence in our plan to position Cazoo for profitable growth, with a relentless focus on improving unit economics, reducing costs and maximizing liquidity,” CFO Stephen Morana said. Still, Morana announced his departure during earnings as the company’s net loss of £243 for the first six months of the year remain a major concern for management.  “Our balance sheet remains strong with over £575m of cash and self-financed inventory at the end of June,” Chesterman advised. “However, given our focus on cash preservation and achieving profitability, we have initiated a full strategic review of our business in mainland Europe, with a view to further reducing cash burn and aiming to ensure that we have an executable plan which materially reduces any further external funding requirement.” Shares of the online auto retailer rose over 180.34% on Tuesday amid significantly elevated trading volume. Just 40 minutes into trading on Tuesday, over 26M shares had changed hands. The average daily trading volume for the name stands at just 2.7M. The pop sent shares surging back into NYSE compliance territory after receiving a delisting warning due to its low share price in recent months. Despite the surge, shares currently trade at levels almost 90% below their 2021 peak. 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