---
schema_version: "secwatch.filing_event.v1"
accession: "0001690820-24-000164"
form_type: "8-K"
ticker: "CVNA"
cik: "0001690820"
company_name: "CARVANA CO."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:01:43.403601+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001690820-24-000164
- form_type: 8-K
- ticker: CVNA
- cik: 0001690820
- company_name: CARVANA CO.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1690820/000169082024000164/0001690820-24-000164-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1690820/000169082024000164/cvna-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001690820-24-000164
- JSON: https://secwatch.observer/filing/0001690820-24-000164.json
- Plain text: https://secwatch.observer/filing/0001690820-24-000164.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1690820/000169082024000164/0001690820-24-000164-index.htm

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