Carvana Q3 net income $741M, Adj. EBITDA $148M, GPU record $5,952, revenue $2.773B

CARVANA CO.

2023-Q3 EPS reported $5.24 revenue$8,347,000,000

Retail units 80,987 (-21% YoY); sequential growth 6% with $400/unit SG&A reduction.
Net income aided by ~$878M gain on debt extinguishment from exchange of $5.52B notes.
Debt exchange reduced total debt by over $1.325B; interest savings >$455M/year.
Q4 outlook: sequential unit decline; Non-GAAP GPU >$5,000; positive Adj. EBITDA.
Record Q3 Total GPU $5,952 (+70% YoY); Non-GAAP Total GPU $6,396.

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 0.95

CARVANA CO. reported fiscal quarter ended September 30, 2023 results: revenue $2.773 billion, net income $741 million, EPS $3.60.

Period: fiscal quarter ended September 30, 2023
Revenue: $2.773 billion
Net income: $741 million
EPS: $3.60
Result: reported results

Exact text from the filing

are versus Q3 2022, unless otherwise noted. Complete financial tables appear at the end of this letter. • Retail units sold totaled 80,987, a decrease of 21% • Revenue totaled $2.773 billion, a decrease of 18% • Total gross profit was $482 million, an increase of 34% • Total gross profit per unit (“GPU”) was $5,952, an increase of $2,452 • Non-GAAP Total GPU was

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Source: SEC EDGAR

accession 0001690820-23-000321

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