Every material Form 8-K Carvana filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Carvana reported third-quarter 2024 results, with revenue up 32% to $3.655 billion and retail units sold up 34% to 108,651. Net income was $148 million, a 4.0% margin, down from a year earlier because Q3 2023 included a roughly $878 million one-time debt extinguishment gain, while operating income rose to $337 million. The company expects Q4 2024 adjusted EBITDA significantly above the high end of its previously communicated $1.0 to $1.2 billion full-year range, if the environment remains stable.
Q3 2024 revenue was $3.655 billion, up 32% year over year, and retail units sold were 108,651, up 34%.
Adjusted EBITDA was $429 million, an 11.7% margin, and GAAP operating income was $337 million, up $289 million.
Net income was $148 million, down from a 26.7% margin in Q3 2023, which included an approximately $878 million debt extinguishment gain.
Outlook: Q4 2024 adjusted EBITDA expected significantly above the high end of the $1.0 to $1.2 billion full-year 2024 range.
Carvana reported second-quarter 2024 results with revenue of $3.410 billion, up 15%, and net income of $48 million, compared with a loss in the year-earlier quarter. The company also expects full-year 2024 Adjusted EBITDA of $1.0 to $1.2 billion, up from $339 million last year, which gives shareholders a specific profit target while the company's results were filed with the SEC.
Retail units sold totaled 101,440 in Q2 2024, up 33% year over year
Net income was $48 million, a 1.4% margin, versus a net loss margin of (3.5)% in Q2 2023
Adjusted EBITDA was $355 million, a 10.4% margin, compared with a 5.2% margin a year earlier
Outlook: full-year 2024 Adjusted EBITDA of $1.0 to $1.2 billion, versus $339 million in 2023
Carvana reported first-quarter 2024 results on May 1, 2024, with revenue up 17% year over year to $3.06 billion and net income of $49 million, a 1.6% net margin versus a loss in Q1 2023. The company said net income included a gain of about $75 million from its Root warrants, and that Adjusted EBITDA of $235 million was a company record. For shareholders, the filing shows higher sales and profit, and management expects Q2 unit growth and Adjusted EBITDA to rise sequentially and expects to meet its full-year 2024 targets.
Revenue of $3.061 billion in Q1 2024, up 17% year over year; retail units sold were 91,878, up 16%
Net income of $49 million, including a gain of about $75 million in the fair value of Root warrants; GAAP net earnings were $0.24 per basic and $0.23 per diluted Class A share
Adjusted EBITDA of $235 million, a 7.7% margin, compared with a negative 0.9% margin in Q1 2023
For Q2 2024, the company expects sequential increases in its year-over-year retail unit growth rate and in Adjusted EBITDA, as long as the environment remains stable
Carvana reported fourth-quarter and full-year 2023 results. Q4 revenue of $2.424 billion fell 15% from a year earlier, while the net loss margin narrowed to (8.3)% from (50.8)%. Full-year net income of $150 million was helped by an $878 million one-time gain on debt extinguishment, and the company expects Q1 2024 Adjusted EBITDA significantly above $100 million.
Q4 2023 revenue was $2.424 billion, down 15%; retail units sold were 76,090, down 13%
Q4 basic and diluted net loss per Class A share was ($1.00), versus a net loss margin of (50.8)% in Q4 2022
FY 2023 net income was $150 million, including an $878 million gain on debt extinguishment; FY revenue was $10.771 billion, down 21%
Q1 2024 outlook: retail units sold slightly up year over year and Adjusted EBITDA significantly above $100 million
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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