Core Insights - Carvana Co. is a significant player in the online auto sales industry, distinguished by its innovative online platform for purchasing used cars, which sets it apart from traditional dealerships [1] - The company is currently facing challenges, including a recent sell-off following its third-quarter earnings report, which marked its first earnings miss in 11 quarters [2][6] Financial Performance - Carvana reported a GAAP EPS of $1.03 for the third quarter, missing the analysts' consensus estimate of $1.32 [2][6] - Despite the earnings miss, Carvana achieved a 55% increase in revenue, reaching a record $5.65 billion, exceeding analysts' expectations of $5.1 billion [3][6] - The company's adjusted EBITDA rose by 45% to $429 million, and GAAP net income increased by 78% to $263 million, indicating strong operational performance [3] Stock Performance - Carvana's stock price is currently at $309.79, reflecting a 6.78% decrease, with fluctuations between $309.74 and $326.40 [4] - The market capitalization of Carvana is approximately $66.67 billion, and the stock has shown resilience, rebounding from a 98% decline during the 2022 bear market [4] Management Outlook - Carvana's founder and CEO, Ernie Garcia, remains optimistic about the company's future, emphasizing record sales and growth, which reassures investors of its long-term prospects [5] - The company has strong support from Wall Street, with a return of investors indicating confidence in its ability to navigate challenges [5]