Carvana Posts Record $405 Million Q1 Profit on Surge in Retail Sales

Key Facts

Carvana Co. (CVNA) reported a record first-quarter profit of $405 million, driven by a 52% year-over-year surge in revenue that exceeded analyst expectations. Earnings per share (EPS) reached $1.69, outperforming estimates as retail sales climbed to 187,393 units. The company's CEO attributed potential demand growth to inflationary pressures, which are increasingly driving cost-conscious consumers toward the used car market. Looking ahead, management issued strong guidance for the second quarter, forecasting record retail units and adjusted EBITDA. The company also established aggressive long-term targets, aiming for 3 million retail units by the 2030-2035 period. These results highlight a major financial turnaround and a more sustainable path toward long-term profitability for the online retailer.

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