Carvana (CVNA) PT Raised to $60 at DA Davidson

 Carvana Announces Agreement With Noteholders That Will Provide The Company Significant Flexibility as It Continues to Execute Its Profitability and Growth Plan by Reducing Total Debt, Extending Matu

July 19, 2023 6:31 AM EDT

 Agreement to eliminate more than 83% of Carvanas 2025 and 2027 unsecured note maturities and lower required cash interest expense by over $430 million per year for the next two years. Agreement to reduce Carvanas total debt outstanding by over $1.2 billion. New notes offered in the exchange are secured by Carvana and ADESA assets. Exchange will launch with support from Noteholders representing over 90% (~$5.2 billion) of Carvanas senior unsecured notes.

PHOENIX--(BUSINESS WIRE)-- Carvana Co. (Carvana or the Company), the fastest growing used car dealer in U.S. history, today... More

Carvana Delivers Best Quarter In Company History For Adjusted EBITDA and Total Gross Profit Per Unit

July 19, 2023 6:30 AM EDT

The Nations Largest Online Used Auto Retailer Also Expects To Achieve Positive Adjusted EBITDA In Third Quarter 2023, For The Second Consecutive Quarter

Total gross profit per unit (GPU) was $6,520, an increase of 94% compared to second quarter 2022, exceeding the Companys previous best quarter by 27% Total Non-GAAP GPU was $7,030, an increase of 91% compared to second quarter 2022, exceeding the Companys previous best quarter by 36% Total GAAP and Non-GAAP GPU benefited from approximately $900 per unit of non-recurring items Net... More

Carvana to Report Second Quarter 2023 and Host Quarterly Conference Call on July 19

July 18, 2023 4:05 PM EDT

PHOENIX--(BUSINESS WIRE)-- Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced it will report its second quarter 2023 financial results for the period ended June 30, 2023, before the market opens on Wednesday, July 19, 2023. On that day, management will hold a conference call and webcast at 8:00 a.m. ET (5:00 a.m. PT) to review and discuss the company's business and results. This announcement reflects a revision to the previously announced second quarter 2023 reporting date of August 3, 2023.

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