Carvana posts strong Q1 earnings and revenue on 40% vehicle sales growth

7 articles · Updated · Barron's · Apr 29

Carvana reported adjusted EBITDA of $672 million and revenue of $6.43 billion, surpassing analyst forecasts, with 187,393 vehicles sold at retail in the first quarter.
Profit per share rose to $1.69, while adjusted EBITDA margin slipped to 10.4% due to higher reconditioning costs and lower shipping revenue, impacting gross profit per vehicle.
Carvana expects sequential growth in retail units and adjusted EBITDA in Q2, reaffirming its long-term goal of selling 3 million vehicles annually at a 13.5% margin by 2030–2035.

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