Carvana stock is trading at its highest level in nearly two years after earningsCarvana Co (NYSE:CVNA) stock is surging today, up 35% to trade at $117.69, after the online used-car retailer reported first-quarter earnings of 23 cents per share -- much higher than the expected loss of 64 cents -- on revenue of $3.1 billion. Better yet, the firm also issued a better-than-expected guidance for the current quarter.Morgan Stanley and J.P. Morgan Securities both upgraded CVNA to "overweight," and no less than eig ...

Carvana (NYSE:CVNA) stock is rocketing higher on Thursday after the used-car retailer posted its earnings report for the first quarter of 2024.Carvana starts its report strong with adjusted earnings per share of 23 cents. That’s a surprise profit compared to Wall Street’s estimate of -74 cents per share. It’s also a major improvement over its Q1 2023 EPS of -74 cents.Revenue coming in at $3.06 billion is another win for CVNA stock. That has it surpassing analysts’ estimate of $2.69 billion for the quarter. ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

Carvana (NYSE: CVNA) stock price has risen from the ashes, becoming one of the best performing companies in Wall Street. It jumped by more than 30% in the pre-market session, reaching a high of $121.7, its highest level since April 2022. It has soared by over 3,600% from its lowest point in 2022.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Spectacular comeback continuesCopy link to sectionCarvana has had a spectacular comeback in the past 14 months ...

Carvana (NYSE: CVNA) turned the tide on its recent challenges. Previously, it grappled with declining sold vehicles and a surplus of used cars, raising concerns about potential bankruptcy in 2022.However, restructuring and strategic adjustments have paid off. In Q1, Carvana avoided losses and turned a profit, surprising investors. This success was reflected in a remarkable 32.54% surge in CVNA stock during the premarket, propelling Carvana shares from $87.09 to $116.15 valuation following the release of its ...

Carvana (NYSE: CVNA) turned the tide on its recent challenges. Previously, it grappled with declining sold vehicles and a surplus of used cars, raising concerns about potential bankruptcy in 2022.However, restructuring and strategic adjustments have paid off. In Q1, Carvana avoided losses and turned a profit, surprising investors. This success was reflected in a remarkable 32.54% surge in CVNA stock during the premarket, propelling Carvana shares from $87.09 to $116.15 valuation following the release of its ...

Carvana Co. (NYSE:CVNA) Q1 2024 Earnings Conference Call May 1, 2024 5:30 PM ET Company Participants Meg Kehan - Investor Relations Ernie Garcia - Chairman, President and Chief Executive Officer Mark Jenkins - Chief Financial Officer Conference Call Participants Rajat Gupta - JPMorgan Chris Bottiglieri - BNP Paribas Sharon Zackfia - William Blair & Company Chris Pierce - Needham Michael Montani - Evercore ISI Seth Basham - Wedbush Securities Doug Arthur - Huber Research Partners. Ronald Josey - Citigroup In ...

Online used car retailer Carvana reported “milestone” first quarter (Q1) results on Wednesday (May 1), fueling a 30% surge in its stock price. This strong performance comes on the heels of a challenging period in 2022, during which Carvana shares plummeting by 97%. “We not only set new all-time company records [this quarter], but we also became the most profitable public automotive retailer in the U.S. for the first time,” Carvana CEO Ernie Garcia told investors and analysts on a call accompanying its resul ...

For the quarter ended March 2024, Carvana (CVNA) 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 ...

Carvana (CVNA) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.76. This compares to loss of $1.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 46.05%. A quarter ago, it was expected that this company would post a loss of $0.95 per share when it actually produced a loss of $1, delivering a surprise of -5.26%.Over the last four quarters, the company has surpassed consensus ...