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Carvana raises 2024 earnings guidance after topping Wall Street's Q3 expectations

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Carvana said its adjusted EBITDA would be “significantly above the high end” of its previous target of $1 billion to $1.2 billion.

Carvana raised its 2024 earnings guidance, saying it would be"significantly above the high end" of its previous target.For 2024 guidance, Carvana said its adjusted earnings before interest, taxes, depreciation, and amortization would be"significantly above the high end" of its previous target ofCarvana's new guidance signals expectations for a strong end of the year.

The company's third-quarter 2023 results included adjusted EBITDA of $148 million and revenue of $2.77 billion. Shares of Carvana are up roughly 300% this year as the company restructured operations and cut costs following Wall Street concerns of bankruptcy for the company in late 2022. Carvana stock closed Wednesday at $207.31 per share, down less than 1%. Shares hit a new 52-week high earlier in the day of $213.98 per share.China's Xiaomi delivers 20,000 EVs in October, just months after launching its first car

 

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