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Carvana (CVNA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Carvana (CVNA - Free Report) reported revenue of $2.97 billion, down 23.6% over the same period last year. EPS came in at -$0.55, compared to -$2.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.62 billion, representing a surprise of +13.18%. The company delivered an EPS surprise of +51.33%, with the consensus EPS estimate being -$1.13.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carvana performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Per retail unit gross profit - Total: $6,520 versus the five-analyst average estimate of $5,348.08.
Per retail unit gross profit - Retail vehicle: $2,666 versus the five-analyst average estimate of $1,784.14.
Retail vehicle unit sales: 76530 compared to the 78302.47 average estimate based on five analysts.
Average Selling Price - Wholesale vehicles: 11926 versus the four-analyst average estimate of 13289.82.
Wholesale vehicle unit sales: 46453 compared to the 41537.34 average estimate based on four analysts.
Per retail unit gross profit - Other: $3,005 versus $2,734.39 estimated by four analysts on average.
Average Selling Price - Retail vehicles: 25624 versus the four-analyst average estimate of 23055.81.
Per retail unit gross profit - Wholesale: $849 compared to the $775.12 average estimate based on three analysts.
Sales and operating revenues- Retail vehicle sales, net: $1.96 billion versus the six-analyst average estimate of $1.79 billion. The reported number represents a year-over-year change of -33.8%.
Sales and operating revenues- Other sales and revenues: $230 million compared to the $208.37 million average estimate based on six analysts. The reported number represents a change of +5.5% year over year.
Sales and operating revenues- Wholesale sales and revenues: $777 million compared to the $651.32 million average estimate based on six analysts. The reported number represents a change of +10.4% year over year.
Gross Profit- Retail vehicle: $204 million compared to the $126.99 million average estimate based on four analysts.
Shares of Carvana have returned +69.2% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Carvana (CVNA) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Carvana (CVNA - Free Report) reported revenue of $2.97 billion, down 23.6% over the same period last year. EPS came in at -$0.55, compared to -$2.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.62 billion, representing a surprise of +13.18%. The company delivered an EPS surprise of +51.33%, with the consensus EPS estimate being -$1.13.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carvana performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Per retail unit gross profit - Total: $6,520 versus the five-analyst average estimate of $5,348.08.
- Per retail unit gross profit - Retail vehicle: $2,666 versus the five-analyst average estimate of $1,784.14.
- Retail vehicle unit sales: 76530 compared to the 78302.47 average estimate based on five analysts.
- Average Selling Price - Wholesale vehicles: 11926 versus the four-analyst average estimate of 13289.82.
- Wholesale vehicle unit sales: 46453 compared to the 41537.34 average estimate based on four analysts.
- Per retail unit gross profit - Other: $3,005 versus $2,734.39 estimated by four analysts on average.
- Average Selling Price - Retail vehicles: 25624 versus the four-analyst average estimate of 23055.81.
- Per retail unit gross profit - Wholesale: $849 compared to the $775.12 average estimate based on three analysts.
- Sales and operating revenues- Retail vehicle sales, net: $1.96 billion versus the six-analyst average estimate of $1.79 billion. The reported number represents a year-over-year change of -33.8%.
- Sales and operating revenues- Other sales and revenues: $230 million compared to the $208.37 million average estimate based on six analysts. The reported number represents a change of +5.5% year over year.
- Sales and operating revenues- Wholesale sales and revenues: $777 million compared to the $651.32 million average estimate based on six analysts. The reported number represents a change of +10.4% year over year.
- Gross Profit- Retail vehicle: $204 million compared to the $126.99 million average estimate based on four analysts.
View all Key Company Metrics for Carvana here>>>Shares of Carvana have returned +69.2% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.