Carvana Posts Strong Q3 Earnings and Optimistic Guidance

Investing.com — Carvana rolled out upbeat full-year guidance Wednesday following blowout third-quarter earnings.

Carvana Co (NYSE: CVNA) surged 22% in after-hours trading following the report.

The online used-car retailer reported Q3 earnings of $0.64 a share on revenue of $3.66 billion, compared with Wall Street estimates for earnings of $0.29 a share on revenue of $3.45B.

Retail units sold jumped 34% to 108,651.

Looking ahead, the company said it now forecasts 2024 earnings “significantly above the high end” of its previously projected range of $1.00B to $1.20B.

The company called for a "sequential increase in its year-over-year growth rate in retail units sold."