CVNA News and Press, Carvana Co. Class A From 07/19/23

2023-07-19 11:54:45 ET S3 Partners Research updated on Wednesday on the short interest backdrop in the U.S. Auto & Truck manufacturing sectors. Ihor Dusaniwsky noted short interest on automaker names is at $43.6B, with about $33.3B of that tally in electric vehicle stocks. The largest s...

2023-07-19 10:50:00 ET Wall Street got off to another solid start on Wednesday morning, with major market benchmarks rising between 0.25% and 0.5% at the open. Positive momentum in recent months has built as the economy has held up better than many had expected, and a rising number of marke...

2023-07-19 10:15:45 ET Summary Carvana Co. has announced a major restructuring of its capital base, including a debt restructuring that will lower cash interest expense by over $430 million per year for the next two years. The company is also offering 35 million shares, expected t...

2023-07-19 09:30:00 ET Summary Carvana Co.'s shares are up 40% premarket on July 19th after reporting a small positive "adjusted EBITDA" and a significant debt swap deal. Despite the positive headlines, the company still posted a GAAP loss of $58 million for Q2. This smaller loss ...

2023-07-19 07:17:34 ET Carvana ( NYSE: CVNA ) pared its huge gain in premarket trading on Wednesday after filing to sell 35M Class A shares. The auto retailer disclosed in a SEC filing that new issuance through one or more equity offerings of Class A stock could be fired off to ...

2023-07-19 06:57:38 ET Carvana ( NYSE: CVNA ) raced higher in early trading on Wednesday after reporting Q2 results and providing an update on its debt situation. The auto retailer said it had the best quarter in its history in terms of adjusted EBITDA and total gross profit...

2023-07-19 06:36:00 ET Summary Microsoft's shares hit an all-time high after the company announced a price for its AI tools for Office software, 365 Copilot, which could boost cloud revenue by 20% by 2025. Johnson & Johnson has been ordered to pay $18.8 million in damages to a...

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 achie...

Agreement to eliminate more than 83% of Carvana’s 2025 and 2027 unsecured note maturities and lower required cash interest expense by over $430 million per year for the next two years. Agreement to reduce Carvana’s total debt outstanding by over $1.2 billion. New not...

The Nation’s Largest Online Used Auto Retailer Also Expects To Achieve Positive Adjusted EBITDA In Third Quarter 2023, For The Second Consecutive Quarter Total gross profit per unit (“GPU”) was $6,520, an increase of 94% compared to second quarter 2022, exceeding the ...