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Compared to Estimates, Carvana (CVNA) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Carvana (CVNA - Free Report) reported revenue of $2.77 billion, down 18.1% over the same period last year. EPS came in at $0.23, compared to -$2.67 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.74 billion, representing a surprise of +1.12%. The company delivered an EPS surprise of +127.06%, with the consensus EPS estimate being -$0.85.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $5,952 versus the three-analyst average estimate of $5,676.30.
Retail vehicle unit sales: 80,987 compared to the 78,570 average estimate based on three analysts.
Per retail unit gross profit - Retail vehicle: $2,692 versus $2,551.94 estimated by three analysts on average.
Per retail unit gross profit - Other: $2,642 compared to the $2,512.03 average estimate based on two analysts.
Markets at end of period: 300 versus the two-analyst average estimate of 318.
Average Selling Price - Wholesale vehicles: $9,612 versus the two-analyst average estimate of $12,047.62.
Per retail unit gross profit - Wholesale: $618 compared to the $625.02 average estimate based on two analysts.
Average Selling Price - Retail vehicles: $24,066 compared to the $23,926.41 average estimate based on two analysts.
Wholesale vehicle unit sales: 40,886 compared to the 46,580 average estimate based on two analysts.
Sales and operating revenues- Retail vehicle sales, net: $1.95 billion versus the six-analyst average estimate of $1.86 billion.
Sales and operating revenues- Other sales and revenues: $214 million compared to the $191.43 million average estimate based on six analysts. The reported number represents a change of +8.6% year over year.
Sales and operating revenues- Wholesale sales and revenues: $610 million versus $701.27 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
Shares of Carvana have returned +9.1% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Carvana (CVNA) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Carvana (CVNA - Free Report) reported revenue of $2.77 billion, down 18.1% over the same period last year. EPS came in at $0.23, compared to -$2.67 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.74 billion, representing a surprise of +1.12%. The company delivered an EPS surprise of +127.06%, with the consensus EPS estimate being -$0.85.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $5,952 versus the three-analyst average estimate of $5,676.30.
- Retail vehicle unit sales: 80,987 compared to the 78,570 average estimate based on three analysts.
- Per retail unit gross profit - Retail vehicle: $2,692 versus $2,551.94 estimated by three analysts on average.
- Per retail unit gross profit - Other: $2,642 compared to the $2,512.03 average estimate based on two analysts.
- Markets at end of period: 300 versus the two-analyst average estimate of 318.
- Average Selling Price - Wholesale vehicles: $9,612 versus the two-analyst average estimate of $12,047.62.
- Per retail unit gross profit - Wholesale: $618 compared to the $625.02 average estimate based on two analysts.
- Average Selling Price - Retail vehicles: $24,066 compared to the $23,926.41 average estimate based on two analysts.
- Wholesale vehicle unit sales: 40,886 compared to the 46,580 average estimate based on two analysts.
- Sales and operating revenues- Retail vehicle sales, net: $1.95 billion versus the six-analyst average estimate of $1.86 billion.
- Sales and operating revenues- Other sales and revenues: $214 million compared to the $191.43 million average estimate based on six analysts. The reported number represents a change of +8.6% year over year.
- Sales and operating revenues- Wholesale sales and revenues: $610 million versus $701.27 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
View all Key Company Metrics for Carvana here>>>Shares of Carvana have returned +9.1% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.