Copyright Benzinga
Carvana Co (NYSE:CVNA) reported third-quarter financial results on Wednesday after the close. Here’s what you need to know from the used car retailer’s report. CVNA shares are moving lower. Review the technical setup here. Q3 Highlights: Carvana reported third-quarter revenue of $5.65 billion, beating analyst estimates of $5.06 billion. The company reported third-quarter earnings of $1.03 per share, missing estimates of $1.24 per share, according to Benzinga Pro. Total revenue increased 55% year-over-year after Carvana sold 155,941 vehicles in the third quarter. Vehicle sales were up 44% on a year-over-year basis. Adjusted EBITDA came in at $637 million on adjusted EBITDA margin of 11.3%. “In Q3, Carvana once again drove industry-leading growth and profitability while crossing over $20 billion revenue run rate scale for the first time,” said Ernie Garcia, co-founder and CEO of Carvana. “We continue to focus on unlocking the structural advantages of our vertically integrated model that strengthen our business and separate our customer offering.” The Road Ahead: Carvana expects to sell more than 150,000 vehicles in the fourth quarter. The company also forecasted adjusted EBITDA at or above the high end of its previous guidance range of $2 billion to $2.2 billion for full-year 2025. Carvana’s management team will further discuss the quarter on an earnings call scheduled for 5:30 p.m. ET. CVNA Price Action: Carvana shares were down 5.64% in after-hours, trading at $334 at the time of publication on Wednesday, according to Benzinga Pro. Read Next: Elon Musk’s Tesla Fleet Dream—AWS On Wheels Photo: Shutterstock.com
