Inc. (NYSE:CARS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 10:00 am ET

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Becky Sheehan

the agreement. This amendment increased our maximum total leverage ratio to 4.5 times with incremental step downs in that ratio through maturity on May 31st, 2022. This amendment provides increased financial flexibility and an ample capacity to respond to market changes. We're reiterating the guidance we communicated last quarter of revenue declines between 6% and 9% year-over-year with adjusted EBITDA margins between 27% and 29%.

At this time, I'd like to turn the call back to Alex for some closing remarks.

Alex Vetter

Thank you, Becky. While our building blocks for the future remain unchanged, we're focused on four key priorities as we close out this year. First, we will continue to take share in traffic and improve our overall value delivery. Second, with the affiliate channel now complete we're fully focused on serving all of our customers directly. Third, we're focused on securing as many of the 4,100 GM dealers as we can taking advantage of our semi exclusive opportunities. And finally, we will continue to innovate new solutions to drive growth and customer success.

And with that, I'd like to open up the call up to your questions. Operator?