Carvana Announces Second Quarter 2022 Results
August 04 2022 - 4:00PM
Business Wire
Retail Units Sold of 117,564, an increase of 9%
YoY Revenue of $3.884 Billion, an increase of 16% YoY Closed
Acquisition of ADESA U.S.’s Physical Auction Business
Carvana Co. (NYSE: CVNA), the leading e-commerce platform for
buying and selling used cars online, today announced financial
results for the quarter ended June 30, 2022. Carvana’s complete
second quarter 2022 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.
“We made significant progress in Q2 across many fronts. We
closed our acquisition of ADESA, outlined a new operating plan to
quickly adapt to the changing market, and drove sequential
improvement on all key metrics,” said Ernie Garcia, founder and CEO
of Carvana. “We also continue to deliver car buying experiences our
customers love and are rapidly gaining market share as a result
despite several industry and economic headwinds. We remain on the
path to becoming the largest and most profitable auto
retailer.”
Conference Call Details
Carvana will host a conference call today, August 4, 2022, 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an archived version will also be available on the Investor
Relations section of the company’s website. A telephonic replay of
the conference call will be available until August 11, 2022, by
dialing (877) 344-7529 or (412) 317-0088 and entering passcode
6706049#.
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 2021 and our Quarterly Report on
Form 10-Q for the first quarter of 2022. 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 and sell cars. With a
continued focus on its customers, technology and innovation,
Carvana offers an intuitive and convenient online car buying,
selling, and financing experience. Carvana.com enables customers to
quickly and easily shop more than 75,000 vehicles, finance, trade
in or sell their current vehicle to Carvana, sign contracts and
schedule delivery or pickup at one of its patented, automated Car
Vending Machines. Carvana is a Fortune 500 company, providing
as-soon-as-next-day delivery to customers in over 300 U.S.
markets.
For further information on Carvana, please visit
www.carvana.com, or connect with us on Facebook, Instagram,
Twitter, YouTube or the Carvana Blog.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220804005983/en/
Investor Relations: Carvana Mike Levin
investors@carvana.com or Media Contact: Carvana Kristin
Thwaites press@carvana.com
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