CVNA - Carvana reports Q2 results expects to achieve positive Adjusted EBITDA in Q3

2023-07-19 06:35:59 ET

• Carvana press release ( NYSE: CVNA ): Q2 Revenue of $2.97B (-23.5% Y/Y) beats by $360M .
• Total gross profit per unit was $6,520, an increase of 94% Y/Y, exceeding the company’s previous best quarter by 27%.
• The company expects to achieve positive Adjusted EBITDA in Q3.
• “Carvana performed exceptionally well in the second quarter and set Company records for Adjusted EBITDA and gross profit per unit, which was up 94% year-over-year, all while continuing to lower expenses. Our strong execution has made the business fundamentally better, and combined with today’s agreement with noteholders that reduces our cash interest expense and total debt outstanding, gives us great confidence that we are on the right path to complete our three-step plan and return to growth,” said Ernie Garcia, Carvana's Founder and Chief Executive Officer

For further details see: