Carvana reported a strong Q3 2024 with significant year-over-year growth. The company achieved record profitability, driven by its unique business model and focus on customer experience. Revenue increased by 32% to $3.655 billion, and the company reported a net income of $148 million.
Retail units sold increased by 34% year-over-year, totaling 108,651 units.
Revenue increased by 32% year-over-year, totaling $3.655 billion.
Total gross profit increased by 67% year-over-year, reaching $807 million.
GAAP Operating income reached $337 million, marking an increase of $289 million.
Carvana expects a strong finish to 2024, anticipating an increase in year-over-year growth rate in retail units sold and Adjusted EBITDA significantly above the previously communicated range for the full year.
Visualization of income flow from segment revenue to net income
Analyze how earnings announcements historically affect stock price performance