Carvana Stock Dips Ahead of Earnings as Analysts Expect Continued Losses

Carvana (CVNA) stock fell 1.5% despite market gains as quarterly earnings approach. The company is expected to post a loss per share of $0.85.

Revenue is projected to decline 18.3% year-over-year to $2.77 billion for the quarter. Analysts estimate a full-year loss per share of $3.71 on revenue of $11.06 billion.

Carvana has underperformed the broader market over the past month, with shares down 23.34% compared to a 6.19% S&P 500 decline.

The company will report quarterly results soon. Upward estimate revisions tend to precede upside earnings surprises and stock price increases.

Carvana holds a Zacks Rank #3 (Hold). The Internet Commerce industry ranks in the top 29% out of 250+ industries.