Carvana Announces First Quarter 2019 Financial Results
09 May 2019 - 6:05AM
Business Wire
Retail Units Sold of 36,766 an increase of 99%
YoY
Revenue of $755.2 Million, an increase of 110%
YoY
Total Gross Profit (incl. gift) of $88.5
Million, an increase of 159% YoY
Vehicles Purchased Directly from Customers up
232% YoY
Carvana Co. (NYSE: CVNA), a leading e-commerce platform for
buying used cars, today announced financial results for the quarter
ended March 31, 2019. Carvana’s complete first quarter 2019
financial results and management commentary can be found by
accessing the Company’s shareholder letter on the quarterly results
page of the investor relations website.
“The first quarter marked several spectacular milestones for
Carvana. We delivered another quarter of triple digit revenue
growth, entered our 100th market, and successfully completed our
first securitization all while continuing to deliver exceptional
customer experiences," said Ernie Garcia, founder and CEO of
Carvana. “2019 is off to a great start. We are energized and remain
focused on our goal of selling more than 2 million cars per
year.”
Conference Call Details
Carvana will host a conference call today, May 8, 2019, at 5:30
p.m. EDT (2:30 p.m. PDT) to discuss financial results. To
participate in the live call, analysts and investors should dial
(833) 255-2830 or (412) 902-6715 and ask for “Carvana Earnings.” A
live audio webcast of the conference call along with supplemental
financial information will also be accessible on the company's
website at https://investors.carvana.com/. Following the webcast,
an archived version will be available on the website for one year.
A telephonic replay of the conference call will be available until
May 15, 2019, by dialing (877) 344-7529 or (412) 317-0088 and
entering passcode 10130283#.
Forward Looking
Statements
This letter contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect Carvana’s current
expectations and projections with respect to, among other things,
its financial condition, results of operations, plans, objectives,
future performance, and business. These statements may be preceded
by, followed by or include the words "aim," "anticipate,"
"believe," "estimate," "expect," "forecast," "intend," "likely,"
"outlook," "plan," "potential," "project," "projection," "seek,"
"can," "could," "may," "should," "would," "will," the negatives
thereof and other words and terms of similar meaning.
Forward-looking statements include all statements that are not
historical facts. Such forward-looking statements are subject to
various risks and uncertainties. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. Among
these factors are risks related to the “Risk Factors” identified in
our Annual Report on Form 10-K for 2018 and our Quarterly Report on
Form 10-Q for Q1 2019. There is no assurance that any
forward-looking statements will materialize. You are cautioned not
to place undue reliance on forward-looking statements, which
reflect expectations only as of this date. Carvana does not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
About Carvana (NYSE: CVNA)
Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA)
mission is to change the way people buy cars. By removing the
traditional dealership infrastructure and replacing it with
technology and exceptional customer service, Carvana offers
consumers an intuitive and convenient online car buying and
financing platform. Carvana.com enables consumers to quickly and
easily shop more than 15,000 vehicles, finance, trade-in or sell
their current vehicle to Carvana, sign contracts, and schedule
as-soon-as-next-day delivery or pickup at one of Carvana’s
patented, automated Car Vending Machines.
For further information on Carvana, please
visit www.carvana.com, or connect with us
on Facebook, Instagram or Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20190508005884/en/
Investor Relations:CarvanaMike
Levininvestors@carvana.com
or
Media Contact:CarvanaKate Carvercarvana@icfnext.com
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