Carvana Co (CVNA) Hits Record Sales and Profitability in Q3

Core Insights - Carvana Co achieved record sales and profitability in Q3, posting $263 million in net income and $637 million in adjusted EBITDA, highlighting strong margins and operational efficiency [1] - The company's vertically integrated model is credited for improving customer experience and driving growth [1] Financial Performance - In Q3, Carvana reported a net income of $263 million and adjusted EBITDA of $637 million, indicating robust operational performance [1] - The company anticipates selling over 150,000 units in Q4 and aims to finish the year with adjusted EBITDA at the top end of its guidance, which is between $2.0 billion and $2.2 billion [2] - Carvana's revenue run rate has surpassed $20 billion, reflecting its focus on scaling the platform [2] Business Model - Carvana operates an online platform for buying and selling used cars, allowing customers to browse, purchase, and sell vehicles through its website or app, which includes 360-degree virtual tours [3] - The company manages vehicle acquisition, reconditioning, and logistics, enhancing its operational efficiency [3]