(Updated - February 22, 2024 4:14 PM EST)

Carvana Co. (NYSE: CVNA) reported Q4 EPS of ($1.00), $0.20 worse than the analyst estimate of ($0.80). Revenue for the quarter came in at $2.42 billion versus the consensus estimate of $2.56 billion.

Outlook

While the macroeconomic and industry environment continues to be uncertain, looking toward the first quarter of 2024, Carvana expects the following as long as the environment remains stable:

Retail units sold slightly up on a year-over-year basis, and
Adjusted EBITDA significantly above $100 million1.

This outlook is driven by results so far in Q1. The Company expects Retail GPU similar to Q4 (with potential for upside), sequential increases in Wholesale GPU and Other GPU, and a sequential reduction in SG&A expense per retail unit sold. Carvana's Q1 outlook does not anticipate any material one time benefits or costs.

For FY 2024, Carvana expects to grow retail units sold and Adjusted EBITDA compared to FY 2023.

For earnings history and earnings-related data on Carvana Co. (CVNA) click here.

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