Carvana's Beats Q2 Revenue and Earnings Expectations as Retail Vehicle Sales Skyrocket by Over 30%
Carvana's second-quarter earnings surpassed Wall Street's expectations for both revenue and earnings per share. The company sold over 100,000 retail vehicles, a more than 30% increase from the same quarter last year, while gross profit per vehicle was up. Carvana anticipates a record-breaking year in 2024, projecting significantly higher adjusted EBITDA than 2023. The company will offer approximately $1 billion in new stock to raise capital through an "at-the-market" offering of around 35 million shares.
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00:00It's Benzinga, and here's what's on the block.
00:02Carvana's second quarter earnings surpassed Wall Street's expectations for both revenue
00:06and earnings per share. The company sold over 100,000 retail vehicles, a more than 30 percent
00:12increase from the same quarter last year, while gross profit per vehicle was up. Carvana anticipates
00:18a record-breaking year in 2024, projecting significantly higher adjusted EBITDA compared
00:22to 2023. The company will offer approximately $1 billion in new stock to raise capital through
00:28an at-the-market offering of around 35 million shares. For all things money, visit Benzinga.com.