Carvana Q1 net income $49M (1.6% margin), record Adj EBITDA $235M, units +16% YoY

CARVANA CO.

2024-Q1 EPS reported $0.24 revenue$3,061,000,000

Retail units sold 91,878 (+16% YoY); revenue $3.061B (+17% YoY).
Net income $49M (1.6% margin) vs. -11% margin a year ago; GAAP operating income $134M record.
Adjusted EBITDA $235M (7.7% margin), record; now exceeds capex and interest expense.
Total GPU $6,432 (+$2,129 YoY); Non-GAAP GPU $6,802 (+$2,006 YoY); record.
Expects sequential increases in YoY unit growth and Adj EBITDA in Q2; reaffirms FY2024 outlook.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARVANA CO. reported fiscal quarter ended March 31, 2024 results: revenue $3.061 billion, net income $49 million, EPS $0.24. Guidance reaffirmed.

Period: fiscal quarter ended March 31, 2024
Revenue: $3.061 billion
Net income: $49 million
EPS: $0.24
Guidance: reaffirmed
Result: reported results

Exact text from the filing

are versus Q1 2023 unless otherwise noted. Complete financial tables appear at the end of this letter. • Retail units sold totaled 91,878, an increase of 16% • Revenue totaled $3.061 billion, an increase of 17% • Total gross profit was $591 million, an increase of 73% • Total gross profit per unit (“GPU”) was $6,432, an increase of $2,129 • Non-GAAP Total GPU was

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CARVANA CO. filing history →

Source: SEC EDGAR

accession 0001690820-24-000164

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