Yahoo Finance What To Expect From ACV Auctions's (ACVA) Q1 Earnings
Online used car auction platform ACV Auctions (NASDAQ:ACVA) will be announcing earnings results tomorrow afternoon. Here's what to expect.
ACV Auctions met analysts' revenue expectations last quarter, reporting revenues of $118.4 million, up 20.8% year on year. It was a strong quarter for the company, with full-year revenue guidance exceeding analysts' expectations and strong growth in its units. It reported 143,999 units sold, up 15.4% year on year.
Is ACV Auctions a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting ACV Auctions's revenue to grow 20.3% year on year to $144 million, improving from the 16.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ACV Auctions has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 2.3% on average.
Looking at ACV Auctions's peers in the online marketplace segment, some have already reported their Q1 results, giving us a hint as to what we can expect. MercadoLibre delivered year-on-year revenue growth of 36%, beating analysts' expectations by 12.1%, and Shutterstock reported flat revenue, topping estimates by 2.8%. MercadoLibre traded up 8.2% following the results while Shutterstock was down 7.5%.
Read our full analysis of MercadoLibre's results here and Shutterstock's results here.
Investors in the online marketplace segment have had steady hands going into earnings, with share prices flat over the last month. ACV Auctions is down 1.6% during the same time and is heading into earnings with an average analyst price target of $21.5 (compared to the current share price of $18.04).
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