3 Carvana Analysts Tackle Online Auto Retailer's Q2 Earnings, Debt Restructuring, EBITDA
Portfolio Pulse from AJ Fabino
Carvana Co (NYSE:CVNA) shares rose nearly 50% this week after the company issued its Q2 earnings report, despite a decline in sales. The company reported a loss of 55 cents per share, better than the anticipated $1.15 loss, on revenues of $2.97 billion, beating the $2.59-billion Street estimate. Adjusted gross profit for the quarter rose 24.2% to $538 million, with adjusted EBITDA for the quarter being $155 million compared to a loss of $216 million last year. Analysts from Wedbush, Oppenheimer, and RBC have mixed views on the company's debt restructuring and future prospects.
July 20, 2023 | 3:50 pm
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Carvana's Q2 earnings beat expectations, leading to a nearly 50% rise in shares. However, analysts have mixed views on the company's debt restructuring and future prospects.
Carvana's better-than-expected Q2 earnings led to a significant rise in its share price. However, analysts have expressed concerns about the company's debt restructuring and future prospects, which could potentially impact the company's stock price in the short term.
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