Short sellers play an important role in the market, and I do believe investors would do well to read through the bearish research provided on many names. Oftentimes, serious issues are uncovered, and investors are made aware of risks they may have been otherwise not privy to. However, Kerrisdale Capital’s recent short report on Carvana (NYSE:CVNA) has done little to put a dent in this high-flyer, with CVNA stock moving about 2% higher following the issuance of this short report this morning. Kerrisdale anno ...

Carvana Co. (CVNA) incurred a loss of $1 per share for fourth-quarter 2023, wider than the Zacks Consensus Estimate of a loss of 95 cents and the year-ago quarter loss of 97 cents per share. Revenues of $2.42 billion missed the Zacks Consensus Estimate of $2.54 billion and fell 14.7% year over year.Key HighlightsTotal gross profit amounted to $402 million, up 108% year over year. Total gross profit per unit (GPU) was $5,283, reflecting a jump of 138.1% year over year, topping our estimate of $5,084. SG&A ex ...

Some direct-to-consumer (DTC) brands have been under pressure from rising costs, supply chain disruptions, and increased competition. In the United States and globally, for that matter, interest rates are currently elevated. The effective federal funds rate is around 5.33%, and with inflation accelerating more than analysts predicted in January, the U.S. Federal Reserve does not seem to be in a rush to bring them back down. Inflation, while largely down from its high of 9.1% in the summer of 2022, is still ...

Carvana Co.’s bonds rose Friday, after the online used-car seller surprised investors with fourth-quarter earnings that highlighted some positive metrics.The company’s loss was wider than expected and revenue fell below forecasts. But Carvana CVNA, +31.02% reported record gross profit per unit (GPU) and projected that adjusted Ebitda would top $100 million in the first quarter, which was better than a FactSet consensus at the end of January of under $80 million. (Ebitda, or earnings before interest, taxes, ...

Key TakeawaysCarvana shares soared after the online used-car retailer posted its first annual profit and issued a bullish outlook as it cut both costs and debt.The company also forecast adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) "significantly above $100 million."Carvana cut costs by renegotiating debt and reducing inventory.Carvana (CVNA) shares soared after the online used-car retailer posted its first annual profit and said it expects improved earnings this quarter ...

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 ...