Carvana exceeded earnings expectations in Q2 2024, projecting $1 billion in adjusted earnings for the year.

From CNBC: 2024-07-31 16:32:32

Carvana’s shares rose 12% in after-hours trading as the company exceeded Wall Street’s expectations in the second quarter. They anticipate $1 billion in adjusted earnings for 2024, with an expected revenue of $3.41 billion for the first quarter. Projections estimate adjusted EBITDA between $1 billion to $1.2 billion for 2024, a significant increase from 2023.

Second-quarter net income for Carvana was $48 million, with an adjusted EBITDA of $355 million, marking record figures for the company. Their net income margin was 1.4%, and the adjusted EBITDA margin was 10.4%. The company is optimistic about a strong performance in 2024, aiming for a record year in sales.



Read more at CNBC:: Carvana (CVNA) earnings Q2 2024