Witness a stunning array of vehicles showcased at a Carvana dealership in Austin, Texas, as captured on Feb. 20, 2023.
Photographed by Brandon Bell | Getty Images
Carvana’s stock surged over 30% in after-hours trading on Wednesday following the announcement of exceptional first-quarter results, marking a significant milestone as the company achieved profitability.
Let’s delve into the first-quarter performance of Carvana, juxtaposed with the average estimates compiled by LSEG:
Earnings per share: 23 cents — the comparison to the anticipated loss of 74 cents remains unclearRevenue: $3.06 billion vs. the expected $2.67 billion
During the first quarter, Carvana reported a record net income of $49 million, a stark contrast to the $286 million loss in the same period last year. Additionally, the company achieved an unprecedented adjusted EBITDA of $235 million, a remarkable improvement from the $24 million loss recorded a year ago.
Of particular interest to investors is Carvana’s gross profit per unit (GPU) of $6,432. Furthermore, the company’s adjusted EBITDA profit margin for the…
2024-05-01 19:59:08
Source: www.cnbc.com