Carvana (CVNA) Q4 Loss Wider Than Expected, Revenues Fall Y/Y

Carvana Co. (CVNA) incurred a loss of $1 per share for fourth-quarter 2023, wider than the Zacks Consensus Estimate of a loss of 95 cents and the year-ago quarter loss of 97 cents per share. Revenues of$ 2.42 billion missed the Zacks Consensus Estimate of $2.54 billion and fell 14.7% year over year.Key HighlightsTotal gross profit amounted to$ 402 million, up 108% year over year. Total gross profit per unit (GPU) was $5,283, reflecting a jump of 138.1% year over year, topping our estimate of$ 5,084. SG&A ex ...