---
schema_version: "secwatch.filing_event.v1"
accession: "0001690820-23-000321"
form_type: "8-K"
ticker: "CVNA"
cik: "0001690820"
company_name: "CARVANA CO."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:35:40.018659+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001690820-23-000321
- form_type: 8-K
- ticker: CVNA
- cik: 0001690820
- company_name: CARVANA CO.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000321/0001690820-23-000321-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000321/cvna-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001690820-23-000321
- JSON: https://secwatch.observer/filing/0001690820-23-000321.json
- Plain text: https://secwatch.observer/filing/0001690820-23-000321.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1690820/000169082023000321/0001690820-23-000321-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.