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Carvana (CVNA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Carvana (CVNA - Free Report) reported $2.77 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 18.1%. EPS of $0.23 for the same period compares to -$2.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.77 billion, representing a surprise of +0.24%. The company delivered an EPS surprise of +127.06%, with the consensus EPS estimate being -$0.85.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carvana performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Retail vehicle unit sales: 80,987 versus the six-analyst average estimate of 77,522.
Per retail unit gross profit - Total: $5,952 versus the five-analyst average estimate of $5,267.71.
Per retail unit gross profit - Retail vehicle: $2,692 versus $2,327.28 estimated by five analysts on average.
Per retail unit gross profit - Wholesale: $618 versus $575.45 estimated by four analysts on average.
Wholesale vehicle unit sales: 40,886 versus the four-analyst average estimate of 43,856.
Per retail unit gross profit - Other: $2,642 versus $2,367.52 estimated by four analysts on average.
Average Selling Price - Retail vehicles: $24,066 versus $24,101.37 estimated by four analysts on average.
Average Selling Price - Wholesale vehicles: $9,612 compared to the $11,865.08 average estimate based on three analysts.
Sales and operating revenues- Retail vehicle sales, net: $1.95 billion versus the six-analyst average estimate of $1.86 billion.
Sales and operating revenues- Other sales and revenues: $214 million compared to the $191.43 million average estimate based on six analysts. The reported number represents a change of +8.6% year over year.
Sales and operating revenues- Wholesale sales and revenues: $610 million versus $701.27 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
Gross Profit- Retail vehicle: $218 million versus $178.76 million estimated by four analysts on average.
Shares of Carvana have returned -30.9% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Carvana (CVNA) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Carvana (CVNA - Free Report) reported $2.77 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 18.1%. EPS of $0.23 for the same period compares to -$2.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.77 billion, representing a surprise of +0.24%. The company delivered an EPS surprise of +127.06%, with the consensus EPS estimate being -$0.85.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carvana performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Retail vehicle unit sales: 80,987 versus the six-analyst average estimate of 77,522.
- Per retail unit gross profit - Total: $5,952 versus the five-analyst average estimate of $5,267.71.
- Per retail unit gross profit - Retail vehicle: $2,692 versus $2,327.28 estimated by five analysts on average.
- Per retail unit gross profit - Wholesale: $618 versus $575.45 estimated by four analysts on average.
- Wholesale vehicle unit sales: 40,886 versus the four-analyst average estimate of 43,856.
- Per retail unit gross profit - Other: $2,642 versus $2,367.52 estimated by four analysts on average.
- Average Selling Price - Retail vehicles: $24,066 versus $24,101.37 estimated by four analysts on average.
- Average Selling Price - Wholesale vehicles: $9,612 compared to the $11,865.08 average estimate based on three analysts.
- Sales and operating revenues- Retail vehicle sales, net: $1.95 billion versus the six-analyst average estimate of $1.86 billion.
- Sales and operating revenues- Other sales and revenues: $214 million compared to the $191.43 million average estimate based on six analysts. The reported number represents a change of +8.6% year over year.
- Sales and operating revenues- Wholesale sales and revenues: $610 million versus $701.27 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -12.5% change.
- Gross Profit- Retail vehicle: $218 million versus $178.76 million estimated by four analysts on average.
View all Key Company Metrics for Carvana here>>>Shares of Carvana have returned -30.9% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.