Full-year expectations in focus
In an initial assessment available Wednesday, November 4, 2026, Thorne expected that afternoon's earnings call to center on the revenue and adjusted EBITDA growth needed to meet full-year consensus estimates. Those estimates were at the top of all guidance ranges, according to the Jefferies assessment reported by dpa-AFX.
AUTO1 confirmed its 2026 outlook on November 4, forecasting sales of 940,000 to 1,000,000 vehicles, gross profit of EUR 1.1 billion to EUR 1.2 billion, and adjusted EBITDA of EUR 250 million to EUR 275 million. Management expects vehicle sales and gross profit to land at the midpoint of their ranges, but adjusted EBITDA at the lower end.
The Ariva portal displayed AUTO1 shares at EUR 18.52, up 3.18%.
Record profitability despite supply constraints
AUTO1's third-quarter results, released November 4, showed 242,817 vehicles sold, an 11.1% increase from a year earlier. Revenue rose 10.4% to EUR 2.3456 billion, while gross profit increased 15.7% to EUR 298.0 million. Adjusted EBITDA climbed 45.7% to a record EUR 75.6 million. Its adjusted EBITDA margin also set a record at 3.2%, up 80 basis points year over year.
Management credited the completed rollout of a new trading system across the Merchant and Retail segments as the main reason for record gross profit per vehicle and profitability. The system is delivering substantially higher gross profit per vehicle, the company said.
Vehicle supply remained a constraint. AUTO1 said fuel-price increases since February 2026 had widened the gap between buyers' and sellers' price expectations from around August. Management estimated that, without this temporary constraint, third-quarter Merchant vehicle sales would have grown 21% rather than 10%, and Retail sales 33% rather than 16%. It expects those price-expectation gaps to narrow over the next eight to 12 weeks, provided fuel prices remain around current levels.
Merchant earnings rise, Autohero loss narrows
The Merchant segment sold 211,461 vehicles, up 10.3% year over year. Gross profit per vehicle reached a record EUR 1,005, while adjusted EBITDA rose 30% to a record EUR 80 million. The segment's adjusted EBITDA margin was also a record, at 4.5%.
Autohero, AUTO1's Retail business, increased vehicle sales 16.2% to 31,356 and revenue 19.8% to EUR 561.0 million. It generated a record EUR 2,777 in gross profit per vehicle and reduced its adjusted EBITDA loss to EUR 4.3 million from EUR 9.6 million a year earlier.
At quarter-end, AUTO1 reported EUR 707 million in cash, describing that as an increase of EUR 32 million from EUR 676 million at the end of the second quarter. The company said it had no corporate debt.
Dealer financing expansion and cross-border pilot
AUTO1 plans to accelerate its Merchant financing rollout with a "Buy Now, Pay Later" version of its dealer financing product. Management said on November 4 that Italy would launch soon, followed over the coming quarters by Romania, Hungary, Greece, the Czech Republic and Portugal.
In Retail, the company began a cross-border sales pilot during the third quarter, offering selected vehicles from its German Autohero inventory to customers in Poland and Italy. AUTO1 said the first transactions had been completed and described the pilot as asset-light and margin-neutral so far.
