Carvana Provides Updates On Operating Plan And Capital Structure; Says Despite Continued Focus On Profitability Initiatives And Unit Economics, Carvana Grew Retail Units By 16% YoY; In Q1, Non-GAAP GPU Increased 42%, Non-GAAP SG&A Per Unit Decreased 17%, And Adjusted EBITDA Margin Increased 860 BPS
Portfolio Pulse from Benzinga Newsdesk
Carvana reported significant improvements in its financial performance for Q1, including a 16% YoY growth in retail units, a 42% increase in non-GAAP GPU, a 17% decrease in non-GAAP SG&A per unit, and an 860 bps increase in Adjusted EBITDA Margin. The company achieved an industry-leading 7.7% Adjusted EBITDA margin and expects further momentum in Q2.
June 06, 2024 | 5:19 pm
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Carvana reported strong Q1 results with a 16% YoY growth in retail units, a 42% increase in non-GAAP GPU, a 17% decrease in non-GAAP SG&A per unit, and an 860 bps increase in Adjusted EBITDA Margin. The company achieved an industry-leading 7.7% Adjusted EBITDA margin and expects further momentum in Q2.
Carvana's strong Q1 performance, including significant improvements in key financial metrics and an industry-leading Adjusted EBITDA margin, is likely to positively impact its stock price in the short term. The company's expectation of continued momentum in Q2 further supports this positive outlook.
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