Carvana Q2 net income $48M, record 10.4% Adj. EBITDA margin; retail units +33% YoY

CARVANA CO.

Retail units sold 101,440 (+33% YoY); revenue $3.41B (+15% YoY).
Net income $48M (1.4% margin); GAAP operating income $259M.
Record Adj. EBITDA $355M (10.4% margin); non-GAAP GPU $7,344.
FY 2024 Adj. EBITDA guidance raised to $1.0-1.2B (from $339M in 2023).
Company expects sequential unit growth in Q3; cites early stage of profitable growth.

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