On October 30, Carvana (NYSE: CVNA), a leading e-commerce platform for purchasing and selling cars announced its Q3 2024 results.The earnings call blew analyst expectations out of the water — whereas consensus forecasts for earnings-per-share (EPS) were just $0.29, CVNA delivered $0.64 — revenues, likewise, beat expectations, coming in at $3.66 billion versus estimates of $3.45 billion. Gross profit per unit (GPU) was also a beat — coming in at an impressive $7,685.Poised to be a leader in a profitable spac ...

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Key Takeaways Carvana shares soared in extended trading on Wednesday after the online car dealer blew past Wall Street's third-quarter earnings estimates and raised its full-year outlook. The stock has recently reclaimed the 200-week moving average and sits poised to break out above the upper trendline of a rising wedge pattern following the company's better-than-expected quarterly results. Investors should monitor key overhead price levels on Carvana's chart around $240, $300, and $365. During retracements ...

Carvana (CVNA) reported $3.66 billion in revenue for the quarter ended September 2024, representing a yearover-year increase of 31.8%. EPS of $0.64 for the same period compares to $0.23 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $3.47 billion, representing a surprise of +5.32%. The company delivered an EPS surprise of +178.26%, with the consensus EPS estimate being $0.23. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Financial Data and Key Metrics Changes - Carvana reported a net income of $148 million and an operating income of $337 million for Q3 2024, with adjusted EBITDA reaching $429 million, marking an adjusted EBITDA margin of 11.7% [6][22][24] - The adjusted EBITDA margin increased by 6.4 percentage points year-over-year, surpassing the midpoint of the long-term financial model EBITDA margin range of 8% to 13.5% [11][22] - Revenue for Q3 was $3.655 billion, reflecting a 32% increase year-over-year, while retail units sold totaled 108,651, an increase of 34% [12][22] Business Line Data and Key Metrics Changes - Non-GAAP retail gross profit per unit (GPU) was $3,617, an increase of $740, marking the sixth consecutive quarter of record performance [16] - Non-GAAP wholesale GPU was $1,123, an increase of $172, driven by growth in wholesale vehicle and marketplace gross profit [18] - Non-GAAP other GPU was $2,945, an increase of $377, primarily due to higher spreads between origination interest rates and benchmark rates [19] Market Data and Key Metrics Changes - Carvana currently holds a 1% market share in an industry with 40 million used vehicle transactions per year, indicating significant growth potential [9][49] - The company has expanded its same-day delivery capability to 35% of the U.S. population, although it remains a small fraction of total sales [32] Company Strategy and Development Direction - Carvana aims to become the largest and most profitable automotive retailer, focusing on operational efficiencies and customer experience improvements [7][10] - The company is investing in reconditioning infrastructure to support over 1 million retail units per year, with plans to scale to over 3 million units [8][9] - The integration of ADESA sites is expected to enhance operational efficiency and reduce costs associated with inventory management and delivery [30][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth trajectory, citing strong demand and operational improvements as key drivers for future performance [11][26] - The company anticipates a sequential increase in year-over-year growth rates for retail units sold in Q4, with adjusted EBITDA expected to exceed the previously communicated range of $1.0 billion to $1.2 billion for the full year 2024 [26][27] - Management acknowledged the seasonal nature of the used car market, with Q4 typically experiencing lower demand and higher depreciation rates [36] Other Important Information - Carvana announced a cash bonus for employees, which is expected to impact adjusted EBITDA by approximately $10 million in Q4 [21] - The company repurchased an additional $100 million of its 2028 senior secured notes, improving leverage ratios [25] Q&A Session Summary Question: Discussion on ADESA integration and same-day delivery - Management highlighted successful integration efforts at ADESA sites, utilizing a capital-light approach to unlock reconditioning capabilities [30] - Same-day delivery is currently available to 35% of the U.S. population, with plans to expand this capability further [32] Question: Concerns about EBITDA margin sustainability - Management noted that seasonality affects used car demand, which typically declines in Q4, impacting EBITDA margins [36] Question: Insights on inventory selection and marketing strategy - Management indicated that inventory growth is crucial for marketing efficiency, as it enhances customer conversion rates [62] Question: Future growth and market share potential - Management expressed confidence in the company's ability to scale operations and capture a larger market share, aiming for significant growth in the coming years [96][105]

Carvana on Wednesday raised its 2024 earnings guidance after the online used car retailer significantly topped Wall Street's third-quarter expectations.Here's how the company performed in the third quarter, compared with average estimates compiled by LSEG:Earnings per share: 64 cents vs. 25 cents expectedRevenue: $3.65 billion vs. $3.45 billion expectedThe company's stock rose roughly 20% in after hours trading Wednesday.For 2024 guidance, Carvana said its adjusted earnings before interest, taxes, depreciat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number: 001-38073 CARVANA CO. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | |-------|-------|----- ...

Exhibit 99.1 Dear Shareholders, The third quarter was another exceptional quarter for Carvana. We had record performance in virtually every key financial measure. Our Net Income in the third quarter was $148 million, leading to a Net Income margin of 4.0%. Our Operating Income was $337 million. And our Adjusted EBITDA was $429 million. This translates to an 11.7% Adjusted EBITDA margin. And these profitability records have to be viewed in a very important context: they were achieved while growing at 34% yea ...

Carvana (CVNA) is slated to release third-quarter 2024 results tomorrow after market close. The Zacks Consensus Estimate for the to-be-reported quarter's earnings and revenues is pegged at 23 cents per share and $3.43 billion, respectively. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. The earnings estimate for the third quarter of 2024 has moved south by a cent over the past seven days. The bottom-line projection indicates no change from the year-ago figure. The Zacks Consensus Es ...

In its upcoming report, Carvana (CVNA) is predicted by Wall Street analysts to post quarterly earnings of $0.23 per share, reflecting no change compared to the same period last year. Revenues are forecasted to be $3.43 billion, representing a year-over-year increase of 23.8%. Over the last 30 days, there has been an upward revision of 11.5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ...