Carvana Co. reported its first-ever annual profit, with shares surging in response to the positive financial results. The online used-car seller announced a $339 million adjusted EBITDA for Q4, missing estimates by $0.15 and missing on revenues. The company forecasts an adjusted core profit for the first quarter significantly above $100 million, despite selling fewer cars and rising expenses. Carvana acquired 2,800 vehicles from Vroom, likely at a favorable price, and expects retail units sold to slightly increase year-over-year in Q1. The company's debt stands at approximately $5.5 billion, with a leverage ratio of 14.5x, indicating a high level of borrowing relative to its earnings. CEO Ernie Garcia remains optimistic, aiming to make Carvana the largest and most profitable automotive retailer. The stock's performance has been notable, opening at $70, a significant rise from $10 a year ago, with a 13% increase in after-hours trading. Analysts at Raymond James upgraded the stock, reflecting growing confidence in Carvana's business model and future prospects.
$CVNA “He makes a ton on every car he sells!” (Carvana lost $200M pre-tax in the 4Q) @SquawkStreet @carlquintanilla https://t.co/zg6TAqfazU
$CVNA Mar 90 calls trading 3.60 here lol https://t.co/SZhw2DIUNL
⏱️60 Seconds Remember Carvana? 🚗 $CVNA up 28% $DCBO $AU $RKT $FOXF $INDI Have a great weekend Bang!💥 https://t.co/Xcs7BObgFH
How Carvana caused a Wall Street whiplash, as the stock rockets to a 2-year high https://t.co/CNORliSp2v
Good rally in $cvna. Swing low? $42.
$CVNA (+28.2% pre) Carvana Stock Soars As Online Used-Car Seller Guides High - IBD https://t.co/mEP22iAulA
$CVNA Carvana reported its first-ever annual profit on Thursday The company forecast an adjusted core profit for the first quarter "significantly above" $100 million. https://t.co/2nNlfYWlh3
Raymond James upgrades Carvana one week after downgrading Carvana $CVNA #NotableCall https://t.co/xTuEpnXFri
Carvana’s stock set to open at $70 A year ago it was at $10 https://t.co/vPn3fRBLzx https://t.co/RW1y5UuH9R
More rough sledding for $CVNA shorts… 😂😂😂 https://t.co/J829ZiXbk6
$CVNA after hours reminding folks what the stock did in 1H23 https://t.co/ACAQcUk188
Carvana posts first-ever annual profit after it cuts debt, shares surge https://t.co/ZPVMvE0EOh https://t.co/u9SxjtWttF
Carvana’s stock rallies after car retailer’s losses narrow, guidance is upbeat https://t.co/pB6vR2czCw
"CEO Ernie Garcia said the company was on track to achieving its goal of “becoming the largest and most profitable automotive retailer”." This is comedy... they can't even make a penny of profit without ADJUSTMENTS! $CVNA $CVNAQ
$CVNA Almost 2/3 already into Q1 (Feb 22) and the outlook is insanely light on details... https://t.co/z9opGoVdRQ
$CVNA Acquired 2,800 vehicles from $VRM - already reconditioned. Probably got a great price... https://t.co/bnRY5xQnNq
Carvana with $339m adjusted Ebitda in Q4. 👀 Shorts were incredibly wrong. +13% AH $CVNA Time for Auto1 to push on the gas pedal with Autohero @TheBertermann @MarkusBoser $AG1 https://t.co/SdRsRSnM98
$CVNA Selling LESS Cars but EXPENSES keep going up!! -> I bet they are moving some expenses from the GPU into SG&A to make GPU look better... https://t.co/YpVuptLPbG
$CVNA - Pretty Good Results; Still May Restructure? ~$375m EBITDUH ~$5.5bn debt +14.5x leverage for a subprime auto lender (disruptive auto retailer)... GLTA... Apollo and Garcia for the win? cc @LisaMonaco @SEC_Enforcement https://t.co/qbWFUlnqMg
Carvana misses by $0.15, misses on revs; expects retail units sold slightly up yr/yr in Q1, adjusted EBITDA above $100 mln $CVNA
Carvana $CVNA exploding higher in extended hours trading after reporting earnings https://t.co/5YMUbUw2kV