Carvana Cruising after Delivering Its Best Adjusted EBITDA and Total Gross Profit Per Unit Results, and a New Noteholder Agreement

July 19, 2023

(24/7 MARKET NEWS) – Carvana Co. (NASDAQ:CVNA) reported, this morning, its financial results for the quarter ended June 30, 2023, which included total gross profit per unit (“GPU”) of $6,520, an increase of 94% compared to second quarter 2022, exceeding the Company’s previous best quarter by 27, and its adjusted EBITDA margin was 5.2%, an improvement of 10.8% compared to second quarter 2022, exceeding the Company’s previous best quarter by 1.6%.

Carvana also announced an agreement to reduce its total debt outstanding by over $1.2 billion.

Carvana is trading at $47.25, up $7.45 (+18.71%), on 8.77M premarket shares traded.

Its 52-week range is $3.55 to $58.05. It’s cleared all of its recent resistance and appears to have last August’s trading levels in sight.

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