Carvana Reports Revenue Boost

By Staff Writer August 06, 2020

Carvana reported 55,098 retail units sold in the 2nd quarter, an increase of 25 percent from Q2 2019.

Revenue totaled $1.118 billion, an increase of 13 percent from the same period in 2019, while total gross profit was $150 million, an increase of 9 percent.

The total gross profit per unit was $2,726, a decrease of $406. Q2 saw a net loss ($106) million, an increase of 66 percent.

EBITDA margin was (6.2 percent), a decrease from (3.6 percent).

Carvana also reported openings in 100 new markets, bringing its end-of-quarter total to 261.

Carvana reported sales strength through July, but added it is “inventory-constrained.” The company is “not providing guidance at this time.”

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Last modified on Friday, 07 August 2020 13:58

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