Carvana Co. (CVNA) Tops Q1 EPS by 90c

Carvana Co. (NYSE: CVNA) reported Q1 EPS of $0.23, $0.90 better than the analyst estimate of ($0.67). Revenue for the quarter came in at $3.06 billion versus the consensus estimate of $2.68 billion.

Outlook:
Our financial performance clearly demonstrates the significant power of our business model.
Looking toward the second quarter of 2024, we expect the following as long as the environment remains stable:
•A sequential increase in our year-over-year growth rate in retail units, and
•A sequential increase in Adjusted EBITDA1.
With our strong results in Q1 and outlook for Q2, we expect to comfortably deliver on our outlook of year-over-year growth in retail units sold and Adjusted EBITDA for FY 2024. Going forward, we do not plan to provide additional full year 2024 updates and will focus on quarterly commentary.

For earnings history and earnings-related data on Carvana Co. (CVNA) click here.

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