UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
|
Date of Report (Date of earliest event reported): April 06, 2026 |
Cars.com Inc.
(Exact name of Registrant as Specified in Its Charter)
|
|
|
|
|
|
Delaware |
001-37869 |
81-3693660 |
(State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
|
|
|
|
|
300 S. Riverside Plaza |
|
Chicago, Illinois |
|
60606 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
|
|
Registrant’s Telephone Number, Including Area Code: 312 601-5000 |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
|
|
|
|
|
|
Title of each class
|
|
Trading
Symbol(s) |
|
Name of each exchange on which registered
|
Common Stock |
|
CARS |
|
The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On April 9, 2026, Cars.com Inc.. (the "Company"), issued a press release reaffirming its Q1 2026 and FY2026 guidance provided on its earnings call on February 26, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 2.05 Costs Associated with Exit or Disposal Activities.
On April 9, 2026, the Company also announced a cost reduction program that includes a reduction in the Company’s workforce of approximately 11% of its full-time roles, including certain management roles and two executive roles.
In connection with this workforce reduction, the Company expects to incur aggregate charges of approximately $8.5-$9 million, consisting primarily of employee-related costs, including severance, benefits, and other related expenses. Substantially all of these charges are expected to result in future cash expenditures.
The Company expects that substantially all of these charges will be recognized in the first quarter of 2026, and that the related cash payments will be substantially completed in Q2.
The estimates of the expected charges and timing are based on current assumptions and may change as the program is implemented.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
Cars.com Inc. |
|
|
|
|
Date: |
April 9, 2026 |
By: |
/s/ Sonia Jain |
|
|
|
Sonia Jain
Chief Financial Officer |