Vehicles are seen on a display at a Carvana dealership on February 20, 2023 in Austin, Texas.In its after-hours earnings report Thursday, the company posted its first annual profit with a net income of $450 million for 2023 compared with a loss of $1.59 billion in 2022.The used-car retailer has been trimming inventory and expenses as it rebounds from the fall-off from a pandemic peak. After Covid drove increased demand for online car sales, the company's stock soared. But after that demand wore off, Carvana ...

Carvana Co (NYSE:CVNA) stock is up 43.8% to trade at $75.34 at last check, despite the car e-tailer's fourth-quarter profit and revenue miss. The company reported its first annual profit thanks to debt cutting, however. Raymond James upgraded the security to "market perform," while William Blair raised its rating to "outperform." Another five analysts lifted their price targets, including J.P. Morgan Securities to $65 from $40.The shares are trading at their highest level since April 2022, and on track for ...

Carvana (NYSE:CVNA) stock is soaring higher on Friday after the used car e-commerce company posted record positive results in its latest earnings report.First, investors will note that Carvana reported adjusted EPS of -$1.75 alongside revenue of $2.42 billion for Q4 2023. These are both below Wall Street’s estimates of -92 cents per share and revenue of $2.55 billion.Even so, traders are excited as the company has been improving its profitability over the last year. That resulted in it reporting a net incom ...

Key PointsThe retail sector has quietly gained over 15% in 3 months, with SPDR S&P 500 Retail ETF (XRT) consolidating near a 52-week range high.XRT holds $421 million in assets, primarily exposed to US retail sectors with a 67% exposure to the Consumer Discretionary sector.Top holdings Carvana (CVNA), Signet Jewelers (SIG), and Kohl’s (KSS) hint at further upside potential despite mixed sentiment and price outlook.5 stocks we like better than Kohl'sAs the theme of 2023 continues into 2024, seeing technology ...

Carvana Co. (NYSE:CVNA) Q4 2023 Earnings Conference Call February 22, 2024 5:30 PM ET Company Participants Meg Kehan - Investor Relations Ernie Garcia - Chairman, President and Chief Executive Officer Mark Jenkins - Chief Financial Officer Conference Call Participants Sharon Zackfia - William Blair & Company Adam Jonas - Morgan Stanley John Healy - Northcoast Research Nicholas Jones - Citizens JMP John Colantuoni - Jefferies Seth Basham - Wedbush Securities Rajat Gupta - JPMorgan Michael Baker - D.A. Davids ...

For the quarter ended December 2023, Carvana (CVNA) reported revenue of $2.42 billion, down 14.6% over the same period last year. EPS came in at -$1.00, compared to -$0.97 in the year-ago quarter.The reported revenue represents a surprise of -4.76% over the Zacks Consensus Estimate of $2.55 billion. With the consensus EPS estimate being -$0.95, the EPS surprise was -5.26%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine th ...

Carvana (CVNA) came out with a quarterly loss of $1 per share versus the Zacks Consensus Estimate of a loss of $0.95. This compares to loss of $0.97 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.26%. A quarter ago, it was expected that this company would post a loss of $0.85 per share when it actually produced earnings of $0.23, delivering a surprise of 127.06%.Over the last four quarters, the company has surpassed consen ...

Carvana Co (NYSE: CVNA) soared in extended hours on Thursday even though it reported worse than expected financial results for its fourth quarter. Why is Carvana stock up in after-hours?Copy link to sectionThe online used cars retailer saw its full-year adjusted gross profit per unit come in at $5,730 – up 115% more versus 2022. Carvana now forecasts a slight year-on-year increase in retail units sold in its current financial quarter. Ernest Garcia III – the chief executive of Carvana Co said in a press re ...

PHOENIX--(BUSINESS WIRE)--Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced financial results for the quarter and full year ended December 31, 2023. Carvana’s complete fourth quarter 2023 and full year 2023 financial results and management commentary can be found by accessing the Company’s shareholder letter on the quarterly results page of the Investor Relations website. “2023 was an exceptional year for Carvana, where our deliberate focus on eff ...

Note on Comparing Carvana Retail GPU to Industry Peers In aggregate, we believe the items outlined above are useful to note when comparing our Retail GPU to that of industry peers. Management Objectives | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------|-----------------------|-----------------------|------------------------|------------------------|-----------------------|------------------------|-----------------------|--------------------------|------------ ...