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Carvana (CVNA) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Carvana (CVNA - Free Report) reported revenue of $3.06 billion, up 17.5% over the same period last year. EPS came in at -$0.41, compared to -$1.51 in the year-ago quarter.
The reported revenue represents a surprise of +12.74% over the Zacks Consensus Estimate of $2.72 billion. With the consensus EPS estimate being -$0.76, the EPS surprise was +46.05%.
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:
Unit sales - Retail vehicle unit sales: 91,878 versus 85,333 estimated by five analysts on average.
Per retail unit gross profit - Total: $6,432 versus the four-analyst average estimate of $5,734.86.
Per retail unit gross profit - Retail vehicle: $3,080 versus $2,846.39 estimated by four analysts on average.
Per retail unit gross profit - Wholesale: $860 versus $711.27 estimated by three analysts on average.
Unit sales - Wholesale vehicle unit sales: 44,155 versus the three-analyst average estimate of 39,376.
Per retail unit gross profit - Other: $2,492 compared to the $2,240.94 average estimate based on three analysts.
Per unit selling prices - Retail vehicles: $23,673 versus the three-analyst average estimate of $23,501.69.
Per unit selling prices - Wholesale vehicles: $9,625 versus $9,434.23 estimated by two analysts on average.
Sales and operating revenues- Retail vehicle sales, net: $2.18 billion versus the five-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of +19.1%.
Sales and operating revenues- Other sales and revenues: $229 million versus the five-analyst average estimate of $179.09 million. The reported number represents a year-over-year change of +42.2%.
Sales and operating revenues- Wholesale sales and revenues: $657 million versus the five-analyst average estimate of $547.51 million. The reported number represents a year-over-year change of +6.3%.
Gross Profit- Retail vehicle: $283 million versus the three-analyst average estimate of $247.11 million.
Shares of Carvana have returned +0.1% over the past month versus the Zacks S&P 500 composite's -4.1% 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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Carvana (CVNA) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Carvana (CVNA - Free Report) reported revenue of $3.06 billion, up 17.5% over the same period last year. EPS came in at -$0.41, compared to -$1.51 in the year-ago quarter.
The reported revenue represents a surprise of +12.74% over the Zacks Consensus Estimate of $2.72 billion. With the consensus EPS estimate being -$0.76, the EPS surprise was +46.05%.
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:
- Unit sales - Retail vehicle unit sales: 91,878 versus 85,333 estimated by five analysts on average.
- Per retail unit gross profit - Total: $6,432 versus the four-analyst average estimate of $5,734.86.
- Per retail unit gross profit - Retail vehicle: $3,080 versus $2,846.39 estimated by four analysts on average.
- Per retail unit gross profit - Wholesale: $860 versus $711.27 estimated by three analysts on average.
- Unit sales - Wholesale vehicle unit sales: 44,155 versus the three-analyst average estimate of 39,376.
- Per retail unit gross profit - Other: $2,492 compared to the $2,240.94 average estimate based on three analysts.
- Per unit selling prices - Retail vehicles: $23,673 versus the three-analyst average estimate of $23,501.69.
- Per unit selling prices - Wholesale vehicles: $9,625 versus $9,434.23 estimated by two analysts on average.
- Sales and operating revenues- Retail vehicle sales, net: $2.18 billion versus the five-analyst average estimate of $1.97 billion. The reported number represents a year-over-year change of +19.1%.
- Sales and operating revenues- Other sales and revenues: $229 million versus the five-analyst average estimate of $179.09 million. The reported number represents a year-over-year change of +42.2%.
- Sales and operating revenues- Wholesale sales and revenues: $657 million versus the five-analyst average estimate of $547.51 million. The reported number represents a year-over-year change of +6.3%.
- Gross Profit- Retail vehicle: $283 million versus the three-analyst average estimate of $247.11 million.
View all Key Company Metrics for Carvana here>>>Shares of Carvana have returned +0.1% over the past month versus the Zacks S&P 500 composite's -4.1% 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.