Faster Than Expected Progress - Carvana Confident About Its Plan To Drive Profitability
Portfolio Pulse from Shivani Kumaresan
Carvana expects to achieve Adjusted EBITDA above $50 million in Q2 2023, with a Non-GAAP total gross profit per unit (GPU) above $6,000, a 63% improvement compared to Q2 2022. The company reported a GPU of $4,303 in Q1, a 52% Y/Y increase, and an Adjusted EBITDA loss of $(24) million. Carvana's shares are trading higher by 24.1% at $19.29.
June 08, 2023 | 4:44 pm
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POSITIVE IMPACT
Carvana expects significant improvements in Adjusted EBITDA and GPU in Q2 2023, leading to a 24.1% increase in share price.
Carvana's positive outlook for Q2 2023, with expected Adjusted EBITDA above $50 million and a 63% improvement in GPU, indicates strong growth potential. This news has led to a 24.1% increase in share price, reflecting investor confidence in the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100