Carvana Shares Drop 6% on Q1 EPS Miss, to Offer $1 Billion in Stock

Carvana Co. (CVNA) Announces Proposed Offering of Series A Preferred Stock

April 20, 2022 4:53 PM EDT

Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced its intention to offer, subject to market and other conditions, $1 billion of a new series of perpetual preferred stock, liquidation preference $1,000 per share (the Series A Preferred Stock) in a private offering only to (i) qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act) and (ii) non-U.S. persons outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.

J.P. Morgan Securities... More

Carvana Co. (CVNA) Announces Proposed $1B Offering of Class A Common Stock

April 20, 2022 4:51 PM EDT

Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced its intention to offer, subject to market and other conditions, $1 billion of its Class A common stock in a public offering registered under the Securities Act of 1933, as amended (the Securities Act).

Ernest Garcia, II, along with Ernie Garcia, III, Carvanas Chief Executive Officer, and entities controlled by one or both of them, have indicated an interest in purchasing up to an aggregate of $432 million of the Companys Class A common stock in the offering,... More

Carvana Co. (CVNA) Announces Proposed Stock Offering, Size not Disclosed

April 20, 2022 4:44 PM EDT

Carvana Co. (NYSE: CVNA) has filed for a proposed common stock offering, size not disclosed.

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Carvana Co. (CVNA) Misses Q1 EPS by $1.47, Revenue Beats

April 20, 2022 4:03 PM EDT

Carvana Co. (NYSE: CVNA) reported Q1 EPS of ($2.89), $1.47 worse than the analyst estimate of ($1.42). Revenue for the quarter came in at $3.5 billion versus the consensus estimate of $3.39 billion.

OutlookWhile we faced a uniquely difficult environment in the first quarter, we are already seeing positive trends across our key metrics. In light of the current industry trends impacting customer affordability, high used vehicle prices, rapid movements in interest rates, rapid increases in fuel prices, and other macroeconomic uncertainty impacting the used vehicle market, at this time we are no longer providing... More

Carvana Co. (CVNA) Lower on Cautious Comments

April 20, 2022 9:47 AM EDT

Carvana Co. (NYSE: CVNA) weakness said related to cautious comments at M Science. Share are down 6.9%

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