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30.07.26 - 17:15
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Carvana Crashes After Earnings Outlook Disappoints Wall Street (ZeroHedge)
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Carvana Crashes After Earnings Outlook Disappoints Wall Street
Carvana shares plunged in premarket trading after the online used-car retailer issued full-year earnings guidance that may fall short of Wall Street expectations, as vehicle sales growth slowed and profit per car declined. The outlook raises questions about whether Carvana's rapid expansion can justify its high stock valuation.
Carvana reported a record second-quarter adjusted EBITDA of $769 million, narrowly beating the $766.2 million consensus estimate among analysts tracked by Bloomberg, as vehicle sales rose 38% to more than 197,300. Still, sales growth slowed to its weakest quarter since 3Q24, while gross profit per unit declined, suggesting margin pressures remain a major problem.
"This marks 10 straight quarters of being the fastest-growing and most profitable automotive retailer — achieving both by large margins," CEO Ernest Garcia wrote in a letter to shareholders. "We have said that we believe the bigges...
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29.07.26 - 22:48
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CARVANA CO. Announces Climb In Q2 Bottom Line (AFX)
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WASHINGTON (dpa-AFX) - CARVANA CO. (CVNA) reported a profit for its second quarter that Increased, from last yearThe company's bottom line totaled $310 million, or $0.42 per share. This compares w......
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