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Carvana - 3 Mark Jenkins - 3 Ernie Garcia III - 1 Garcia - 1 ” - 1 Ernie Garcia - 1 Carlyle Mark Jenkins - 1 Carlyle - 1
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6 mentions found


☆ Carvana shares spike 30% as used car retailer posts record first quarter
  + stars: | 2024-05-01 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the first quarter. It also posted an all-time-best adjusted earnings before interest, taxes, depreciation and amortization of $235 million, up from a $24 million loss a year earlier. Carvana's adjusted profit margin for the quarter was 7.7%. They had climbed roughly 67% so far this year before the company reported its first-quarter results.
Persons: Carvana, Ernie Garcia III, Garcia, Mark Jenkins Organizations: Wednesday Locations: Austin , Texas
☆ Carvana stock surges 30% after it reaches a massive debt reduction deal
  + stars: | 2023-07-19 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
The Phoenix-based company will reduce its outstanding debt by more than $1.2 billion, according to a release. Carvana has been struggling financially in recent months because of declining used car prices. A relatively new player in the used car field, it has lost money most quarters since it went public in 2017 as it aimed for sales growth rather than short-term profitability. Carvana launched 10 years ago with a plan to disrupt the used car market, offering both online car shopping and trade-ins as well as distinctive car vending machines. Carvana (CVNA) shares are up now a whopping 1,000% for the year.
Persons: Carvana, ”, Mark Jenkins Organizations: New, New York CNN Locations: New York, maturities
☆ Carvana shares jump more than 20% on deal to reduce debt by $1.2 billion
  + stars: | 2023-07-19 | by ( Michael Wayland | ) www.cnbc.com   time to read: +3 min
Carvana has reached a debt restructuring agreement that will reduce the used car retailer's total debt outstanding by more than $1.2 billion, the company said Wednesday. Shares of the company jumped more than 20% in premarket trading Wednesday after being off roughly 7% before the announcement. Carvana stock this year has soared from roughly $4 per share to start the year to roughly $40 as of Tuesday's close. Carvana said its restructuring agreement covered roughly $5.2 billion of senior, unsecured bonds and included Apollo Global Management, its largest bondholder. Carvana's debt before the deal was roughly $8.5 billion, including $5.7 billion, or 74.5%, in unsecured notes, according to FactSet.
Persons: Carvana, Mark Jenkins, Ernie Garcia Organizations: Apollo Global Management, Refinitiv, Refinitiv . Locations: maturities
☆ Credit spreads could increase, says Carlyle
  + stars: | 2023-06-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCredit spreads could increase, says CarlyleMark Jenkins, head of global credit at Carlyle, says a rise in defaults could increase credit spreads, but credit spreads are still "well below recessionary levels from a historic perspective."
Persons: Carlyle Mark Jenkins, Carlyle
☆ Fact Check-Distorted photo of US Senator Fetterman not proof of a ‘body double’
  + stars: | 2023-03-30 | by ( Reuters Fact Check | ) www.reuters.com   time to read: +2 min
Senator John Fetterman is being shared alongside false claims that he received a “head replacement” or has a “body double” after he was admitted to hospital in February 2023. That’s not Fetterman on the right” alongside two photos of Fetterman (here). In other posts, people remarked the photo on the right shows a “body double” (here), (here). The photo on the right shows Fetterman being discharged from a hospital on May 22, 2022, as seen in Pittsburgh’s NPR News Station WESA article (here). Side by side comparisons of two photos of Fetterman are not proof he was replaced by a body double.
☆ Carvana’s losses widen as the used-car market stalls
  + stars: | 2023-02-23 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +2 min
Auto industry supply chain problems that decreased the supply of new cars led to dramatic increases in the price of Carvana’s product, used cars. Many of thoe issues have begun to resolve in the new car market and, consequently, used car prices have recently started to come down. The number of cars Carvana sold in the fourth quarter last year dropped 23% from a year earlier to about 87,000 while overall revenue declined 24%. For the full year, Carvana sold 3% fewer vehicles while revenue, at $13.6 billion, increased 6%. As the numbers of cars sold has dropped, though, the reductions haven’t yet been visible in per-vehicle profits, they said.
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