Carvana posts $405 million Q1 profit on record used-car sales

8 articles · Updated · The Wall Street Journal · Apr 29

Carvana reported a $405 million profit, or $1.69 per share, with revenue rising to $6.43 billion and 187,393 retail units sold, exceeding analyst expectations.
Adjusted Ebitda reached $672 million, ahead of forecasts, as the company experienced a 40% year-over-year increase in vehicle sales and projects further sequential growth in the second quarter.
Carvana's leadership reaffirmed their goal to sell 3 million cars annually at a 13.5% adjusted Ebitda margin by 2030–2035, despite ongoing higher reconditioning costs.

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