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2023-03-23 09:33:00 ET Carvana (NYSE: CVNA) made a big mistake when it slammed the growth accelerator during the pandemic years; total debt quadrupled in just a few years to $8.3 billion. The Federal Open Market Committee's aggressive shift in interest rate policy tightened the lend...
2023-03-22 17:13:09 ET Summary Even at EBITDA breakeven, the company will still burn a lot of cash given its high interest expense. Meanwhile, the used car market remains difficult. I think bankruptcy is still a very real possibility in the next few years. While Carv...
2023-03-22 16:12:59 ET Carvana ( NYSE: CVNA ) stock notched a solid gain on Wednesday after announcing plans to restructure its debt load. The Arizona-based company announced a exchange offers for an aggregate principal amount of $1B in bonds due in 2028. The holders...
2023-03-22 12:11:21 ET Shares of used car dealer Carvana (NYSE: CVNA) , which have lost roughly 94% of their value over the past year, bounced back hard on Wednesday morning, rising 19.3% through 11 a.m. ET. Investors are cheering a debt restructuring plan that the company a...
2023-03-22 09:59:09 ET GameStop ( NYSE: GME ) opened with a 45% rally on Wednesday as the retailer's surprise for the holiday quarter recharged bulls. Shares have since cooled just a bit and were showing a 33% rise as of 9:50 a.m. Volume on GamStop ( GME ) in th...
2023-03-22 09:00:00 ET Summary Carvana is experiencing a massive slowdown in revenue growth while expenses continue to increase, which is causing major losses on the books. Carvana has never generated $1 in annual cash from operations, has never turned a profit, and has never gene...
Carvana Co. (NYSE: CVNA) (“ Carvana ” or the “ Company ”), the leading e-commerce platform for buying and selling used cars, announced today that it is offering noteholders the option to exchange their unsecured notes at a premium to current trading prices and ...
2023-03-22 08:28:07 ET Carvana ( NYSE: CVNA ) announced that its exchange offer to creditors would reduce its annual cash interest bill by ~$100M and the face value of its outstanding $5.7B of unsecured bond debt by $1.3B, if fully subscribed. Financial Terms reports that the ...
2023-03-20 16:33:03 ET Summary Carvana has rallied tremendously in 2023, but is still well below the highs. The company has rapidly declining sales volumes and compressing margins. Their massive debt pile hangs over the company. This is more of an issue than normal given how c...
2023-03-20 14:35:46 ET Summary Carvana Co. remains a battleground stock. On the one hand, we have analysts steadily downwards revising Carvana Co.'s prospects, after analysts were clearly wrong in 2022. While for their part, Carvana's management continues to put their money wh...
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Delivers Net Income of $48M and Net Income Margin of 1.4% Drives industry-leading 33% YoY Retail Unit growth and industry-leading profitability among public automotive retailers with record 10.4% Adjusted EBITDA Margin Carvana expects a sequential increase in retail units in Q3 ...
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2024-07-27 17:18:00 ET CarMax (NYSE: KMX) is a giant in the used car market, but the industry remains highly fragmented market with around 18,000 dealers. That has left an opening for Carvana (NYSE: CVNA) to quickly build a business that relies heavily on online sales. Carva...