Posted 2/22/2024, 11:28:45 PM
Carvana Beats Q4 Profit Views, Sees Higher Earnings Ahead Despite Economic Uncertainty
- Carvana topped Wall Street's profit expectations in Q4 2023 and expects improved earnings in Q1 2024
- Adjusted EBITDA was $60M in Q4, beating estimates; revenue was $2.42B, slightly below expectations
- Carvana reduced debt by over $1B in 2022 but still has high interest costs and needs to control spending
- Gross profit per unit rose to over $5,500 from $3,022 in 2022
- Carvana forecasts Q1 2024 adjusted EBITDA "significantly above" $100M despite uncertain economic conditions