Carvana reports Q3 revenue $3.66B, consensus $3.45B

Reports Q3 adjusted EBITDA $429M. “Carvana’s (CVNA) exceptional results underscore our position as the fastest-growing and most profitable automotive retailer,” said Ernie Garcia, Carvana founder and CEO. “Our progress in Q3 further highlights the strength of our vertically integrated business model and also begins to demonstrate the power of our unique infrastructure, including the ADESA network. As we integrate our operations and tap our national footprint, we are not only driving efficient growth, but also improving customer experiences, reducing costs, and strengthening our wholesale platform. With just 1% share in an enormous market, significant capacity to support growth, and a business that generates positive feedback as it scales, we are just getting started.”