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18.02.26 - 22:36
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CARVANA CO. Profit Rises In Q4 (AFX)
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WASHINGTON (dpa-AFX) - CARVANA CO. (CVNA) announced earnings for its fourth quarter that Increased, from the same period last yearThe company's earnings totaled $857 million, or $4.22 per share. T......
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30.10.25 - 15:25
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Carvana Shares Plunge Nearly 10% Despite Strong Headline Earnings (ZeroHedge)
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Carvana Shares Plunge Nearly 10% Despite Strong Headline Earnings
Carvana shares are down almost 10% this morning even as the online used-car retailer delivered another quarter of impressive looking headline results, highlighting growing skepticism that its financial rebound may be outpacing the realities of a shaky auto market.
Revenue jumped to $5.65 billion from $3.66 billion a year earlier, powered by a 44% increase in retail units sold to 155,941, according to Bloomberg. Net income rose to $263 million, or $1.03 per share, compared with $148 million, or 64 cents, a year ago. Adjusted earnings hit $1.50 per share, well ahead of expectations, while adjusted EBITDA climbed to $637 million. The company projected fourth-quarter retail unit sales above 150,000 vehicles.
CEO Ernie Garcia celebrated the scale of the recovery, telling shareholders: “Not only is this growth happening at the same time we are producing margins higher than have ever been reported by any other automotive retailer, bu...
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