CVNA - Up 157% in 2023: Has Carvana Really Made Any Progress?
2023-05-12 05:56:00 ET
Carvana (NYSE: CVNA) shares have soared 157% year to date as of this writing, and during the first quarter, the used car retailer posted its best first-quarter adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) margin in company history, improved its total gross profit per unit (GPU) and reduced costs.
That means the company is well on the road to recovery, right?
Not so fast. Let's dig into a couple of key metrics and figure out how much progress Carvana really made during the first quarter.
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Up 157% in 2023: Has Carvana Really Made Any Progress?