CVNA - Carvana Could Earn $180 Million This Quarter According to 1 Wall Street Analyst
2024-04-22 12:07:00 ET
It's starting to look like Carvana (NYSE: CVNA) stock is going to survive its near-death experience.
One year ago, Carvana wrapped up its worst year ever, losing $1.6 billion despite booking a record $13.6 billion in sales. Burdened with $6.1 billion in long-term debt, and another $1 billion in long-term lease obligations, this used car dealer's future looked grim. One year later, however, Carvana stock has soared 10x in value. (By the way, did you know that one of my colleagues predicted exactly this ?)
How'd it do that? According to J.P. Morgan analyst Rajat Gupta, Carvana has a secret weapon, and it's this tool that could lift Carvana to $180 million in earnings before interest, taxes, depreciation, and amortization ( EBITDA ) when it reports earnings next month.
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Carvana Could Earn $180 Million This Quarter, According to 1 Wall Street Analyst