Carvana’s Gift Impacts Results Featured

By Staff Writer March 01, 2019 764

Carvana Co. made a nice gift to its employees last year, but it makes the company’s quarterly results a little harder to read.

In September, Carvana gave away $35 million worth of stock it its employees to mark the milestone of selling its 100,000th unit.

The fourth-quarter results show different effects of that gift.

For example, total gross profit is reported as $56.1 million, including the gift. But total gross profit per unit is reported at $2,131, excluding the gift.

Caravan sold 27,750 retail units in the fourth quarter. It recorded revenue of $584.8 million.

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Last modified on Friday, 01 March 2019 13:52