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12.08.26 - 15:03
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Carvana Announces Successful Upsize and Pricing of $1.66B Senior Secured Term Loan B Facility (Business Wire)
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Reduces cash interest expense by approximately $45 million per year on a leverage-neutral basisPHOENIX--(BUSINESS WIRE)--Carvana (NYSE: CVNA), the leading e-commerce platform for buying and selling cars, today announced the successful upsize and pricing of a Senior Secured Term Loan B Facility in an aggregate principal amount of $1.66 billion (the “Term Loan B”). The company intends to use proceeds from the Term Loan B, together with cash on hand, to redeem in full the Company's 9.00% Senior Secured Notes due 2030.
Over the past 10 quarters, Carvana has generated industry-leading growth and industry-leading profitability. The company's performance and opportunistic capital structure improvements have resulted in its strongest-ever financial position. As of Q2 2026, Carvana's net debt to trailing twelve-month Adjusted EBITDA ratio was 1.0x. This transaction further strengthens Carvana's financial position by replacing the Company's nearest maturity secured notes with longer-dated and lower-cost fi...
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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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