Carvana (CVNA) - 2024 Q3 - Quarterly Results

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 ...