Shares of Vroom Inc. VRM, -36.76% fell more than 5% in the extended session Monday after the online used-car retailer reported mixed fourth-quarter results, posting a wider-than-expected loss and sales that were above expectations, and called for lower-than-expected sales in the current quarter. Vroom said it lost $130 million, or 95 cents a share, in the quarter, compared with a loss of $61 million, or 44 cents a share, in the year-ago quarter. Adjusted for one-time items, Vroom lost 94 cents a share. Revenue rose 130% to $934.5 million, Vroom said. FactSet consensus called for an adjusted loss of 77 cents a share on sales of $902 million for the company. Vroom sold more vehicles online on “strong” demand for used cars and said there was a “growing consumer acceptance” of its business model, but headwinds included lower margins and higher reconditioning costs due to labor shortages and higher demand for third-party reconditioning companies, Vroom said. Vroom guided for first-quarter revenue of about $875 million, and online sales between 18,000 vehicles and 19,000 vehicles. The analysts surveyed by FactSet are calling for first-quarter revenue of around $1.04 billion.
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