Carvana Co. (CVNA) Misses Q3 EPS by 3c, Revenues Beat
Carvana Co. (NYSE: CVNA) reported Q3 EPS of ($0.40), $0.03 worse than the analyst estimate of ($0.37). Revenue for the quarter came in at $535 million versus the consensus estimate of $509.95 million.
PDF Link to 3Q Results and Shareholder Letter
- Retail Units Sold of 25,324, an increase of 116% YoY
- Revenue of $535 Million, an Increase of 137% YoY
- Total Gross Profit of $57 Million, an Increase of 181% YoY
- Vehicles Purchased Directly from Customers up 273% YoY
"We had a great quarter. We had our 19th consecutive quarter of triple-digit year-over-year unit and revenue growth. To put that growth in perspective, we delivered more cars to our customers in Q3 than we did in all of 2015 and 2016, combined," said Ernie Garcia, Carvana founder and CEO. "We also continued to drive meaningful improvements in GPU, compounding our progress on our path to profitability while simultaneously preparing for the significantly increased volume we expect in the first half of 2019. Customers continue to enthusiastically respond to our offering, and we have our eyes firmly fixed on our mission to change the way people buy cars."
For earnings history and earnings-related data on Carvana Co. (CVNA) click here.
