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 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------------------|-----------------------|-----------------------|------------------------|------------------------|-----------------------|------------------------|-----------------------|--------------------------|------------ ...

Debt and Interest Expenses - Total outstanding debt of $668 million under short-term revolving facilities at December 31, 2023, with a variable interest rate. A 100-basis point change in market interest rates would result in a $8 million change in annual interest expense[621] - Interest expense increased by $146 million to $632 million in 2023 compared to $486 million in 2022, primarily due to increased interest from Senior Secured Notes[621] - The company has short-term revolving facilities with an aggregate borrowing capacity of $4.2 billion, with an outstanding balance of $668 million as of December 31, 2023[663] Customer Experience and Mobile Platform - Mobile platform investments aim to enhance customer experience, with 76% of U.S. adults making purchases using mobile devices and one in three making weekly mobile purchases[629] - Customers can complete vehicle purchases in as little as 10 minutes using seamless transaction technology[636] - Post-sale customer support includes a seven-day return policy, with an average customer satisfaction rating of 4.7 out of 5.0 based on over 195,000 surveys[642] - Investments in vending machines and delivery services aim to improve customer experience and brand awareness[626][630] Inventory and Vehicle Acquisition - Inventory includes over 33,000 total website units, with mobile-optimized search and discovery features for customers[633] - Proprietary algorithms evaluate over 100,000 vehicles daily to identify suitable purchases, leveraging data sources for quality, inventory fit, and consumer desirability[645] - Vehicle acquisition primarily from customer trade-ins and auctions, reducing auction fees and diversifying inventory[644] - The company's inventory management system and automated photography technology provide a 360-degree virtual tour of vehicles, enhancing transparency and customer experience[647][660] Logistics and Infrastructure - 80% of the U.S. population is within 100 miles of an IRC or auction site, reducing delivery times and potentially increasing conversions[627] - The company has established a logistics network and local marketing presence in 316 metropolitan cities, covering 81.1% of the U.S. population as of December 31, 2023[650] - The company's proprietary logistics network, based on a "hub and spoke" model, connects all inspection and reconditioning centers (IRCs) to vending machines and hubs, optimizing speed and cost[648] - The company's logistics infrastructure ensures highly accurate predictions of vehicle availability, minimizing delays and enhancing customer experience[648] Business Performance and Growth - The company has purchased, reconditioned, sold, and delivered over 1.7 million retail vehicles since its first market launch in January 2013[650] - The company employs over 13,700 full-time and part-time employees as of December 31, 2023[666] Technology and Innovation - The company's technology portfolio includes predictive models and APIs for automobile finance services, optimizing consumer lending processes[660] Marketing and Competitive Advantage - The company's marketing strategy includes multi-channel advertising, focusing on brand building and direct response channels to scale local markets[652] - The company's competitive advantage lies in its vertically integrated business model, emphasizing transparency, convenience, and vehicle quality[658]

SACRAMENTO, Calif.--(BUSINESS WIRE)--Carvana (NYSE: CVNA), an industry pioneer for buying and selling used cars online, today announced its expansion of same day vehicle delivery to the Sacramento area. Now, select residents of California’s Gold Country can take delivery of their vehicle within hours of placing an order on Carvana.com. Local customers interested in selling their current vehicles to Carvana can also benefit from as-soon-as same day drop-off at specific locations throughout the state. “Aft ...

In an age of analytics, analyst reports are sort of like a baseball player’s slash line. Knowing about stock upgrades and stock downgrades is an essential part of your research, but ultimately, they only tell you so much. That’s particularly true in volatile times such as investors have been living through for the last four years. In 2024, that volatility is centered, in part, around interest rates. The year started out with the market pricing in six or more interest rate cuts. But with inflation beginning ...

Analysts on Wall Street project that Carvana (CVNA) will announce quarterly loss of $0.94 per share in its forthcoming report, representing an increase of 3.1% year over year. Revenues are projected to reach $2.55 billion, declining 10.2% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior t ...

Online vehicle retailer Carvana (NYSE:CVNA) won the pandemic with its inherently minimal-contact business. However, market experts now question whether CVNA stock can win the post-pandemic cycle of high inflation and high interest rates.According to a Barron’s report, analysts at Raymond James — led by Mitch Ingles — wrote earlier on Friday that all the “good news seems already reflected in the stock price.” In addition, near-term growth for Carvana faces threats from consumers’ inability to afford cars. Wh ...