3Sem.ยท

$CVNA (+6,45ย %) | Carvana Q3'24 Earnings Highlights:


๐Ÿ”น EPS: $0.64 (Est. $0.29) ๐ŸŸข

๐Ÿ”น Revenue: $3.66B (Est. $3.45B) ๐ŸŸข; UP +32% YoY

๐Ÿ”น Retail Units Sold: 108,651; UP +34% YoY


Outlook:

๐Ÿ”น Full-Year Adjusted EBITDA: Expected to be "significantly above" prior guidance of $1.0B - $1.2B ๐ŸŸข

๐Ÿ”น Retail Units: Expects sequential increase in YoY growth rate

๐Ÿ”น Operational Focus: Continued emphasis on efficiency and enhancing customer experience

๐Ÿ”น Market Conditions: Assumes stable environment


Key Financial Metrics:

๐Ÿ”น Net Income Margin: 4.0%

๐Ÿ”น Adjusted EBITDA: $429M (Record)

๐Ÿ”น Adjusted EBITDA Margin: 11.7% (Record and industry best)

๐Ÿ”น Market Share: ~1% of total used car market


Business Highlights:

๐Ÿ”ธ Vertically Integrated Business Model: Driving profitability and growth

๐Ÿ”ธ ADESA Network Integration: Improving operational efficiency

๐Ÿ”ธ National Footprint: Supporting growth and cost reductions

๐Ÿ”ธ Wholesale Platform Performance: Strong results contributing to profitability

๐Ÿ”ธ Present in Over 300 U.S. Markets


CEO Ernie Garcia's Commentary:

๐Ÿ”ธ "Carvana's exceptional results underscore our position as the fastest-growing and most profitable automotive retailer. Our progress in Q3 further highlights the strength of our vertically integrated business model and also begins to demonstrate the power of our unique infrastructure, including the ADESA network."

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