Retail

Carvana raises its Q2 2023 outlook

Image provided by Carvana.

June 8, 2023

Carvana Co., an e-commerce platform for buying used cars that delivers cars to customers with a massive, coin-operated vending machine, announced an improved Q2 2023 outlook based on anticipated results from its continued plan to drive profitability, according to a press release.

The company expects to achieve adjusted EBITDA above $50 million in second quarter 2023.

Non-GAAP total gross profit per unit expected to be above $6,000, representing a company record and an over 63% improvement compared to second quarter 2022.

Loans sold or securitized quarter-to-date total approximately $2 billion, compared to $1.3 billion sold or securitized quarter-to-date as of May 4, 2023.