Carvana Q3 2022: units -8%, revenue -3%, net loss margin widens to 15%; cautious Q4 outlook

CARVANA CO.

2023-Q3 EPS reported -$7.88 revenue$10,767,000,000

Retail units sold 102,570 (-8% YoY); revenue $3.386B (-3% YoY); net loss margin (15.0%).
Total gross profit per unit $3,500 (down $1,172 YoY); adjusted EBITDA margin (5.9%) vs 0.3% prior year.
Net loss per Class A share $2.67; reduced Carvana-only SG&A by ~$90M QoQ.
Outlook: expects sequential decline in retail units and total GPU in Q4; no quantitative 2023 guidance.
Amended floorplan facility with Ally to $2.2B capacity through Sept 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARVANA CO. reported the fiscal quarter ended September 30, 2022 results: revenue $3.386 billion, EPS $2.67.

Period: the fiscal quarter ended September 30, 2022
Revenue: $3.386 billion
EPS: $2.67
Result: reported results

Exact text from the filing

are versus Q3 2021, unless otherwise noted. Complete financial tables appear at the end of this letter. • Retail units sold totaled 102,570 a decrease of 8% • Revenue totaled $3.386 billion, a decrease of 3% • Total gross profit was $359 million, a decrease of 31% • Total gross profit per unit was $3,500, a decrease of $1,172 • Total gross profit per unit, excluding

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Source: SEC EDGAR

accession 0001690820-22-000312

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