🔹 Revenue: $3.55B (Est. $3.37B) 🟢; UP +46% YoY
🔹 Net Income: $159M (Est. $123M) 🟢; Net Income Margin: 4.5%
FY25 Guidance:
🔹 Expects significant growth in both Retail Units Sold and Adjusted EBITDA
🔹 Sequential growth anticipated in Q1 2025 for both Retail Units and Adjusted EBITDA
Segment Performance:
🔹 Retail Units Sold: 114,379 (Est. 108,000) 🟢; UP +50% YoY
Key Financial Metrics:
🔹 Adjusted EBITDA: $359M (Est. $335M) 🟢; Adjusted EBITDA Margin: 10.1%
🔹 GAAP Operating Income: $260M vs. $110M in Q4 2023 🟢
🔹 Net Income Margin: 4.5% (Est. 3.7%) 🟢
Business Highlights:
🔸 Achieved record profitability, becoming the most profitable public automotive retailer in U.S. history by Adjusted EBITDA margin.
🔸 Delivered industry-leading retail unit growth of 50% YoY in Q4 and 33% YoY for the full year.
🔸 Achieved record Net Income Margin of 3.0% and Adjusted EBITDA Margin of 10.1% for the full year.
CEO Ernie Garcia’s Commentary:
🔸 "In 2024, Carvana became the most profitable public automotive retailer in US history as measured by Adjusted EBITDA margin while also resuming industry-leading growth. With just ~1% market share today and many opportunities to improve and expand our offering, we know this is just the beginning of our journey to change the way people buy and sell cars."
Strategic Outlook:
🔸 Focused on increasing market share from the current ~1% by expanding service offerings.
🔸 Continued emphasis on profitability improvements and enhancing customer experience in 2025.
🔸 Targeting significant growth in both Retail Units Sold and Adjusted EBITDA for FY 2025.