Carvana on Wednesday raised its 2024 earnings guidance after the online used-car retailer significantly topped Wall Street's third-quarter expectations.
For 2024 guidance, Carvana said its adjusted earnings before interest, taxes, depreciation and amortization would be "significantly above the high end" of its previous target of $1 billion to $1.2 billion.
The company reported $339 million in adjusted EBITDA last year.
Adjusted EBITDA was $429 million and adjusted EBITDA margin was 11.7%, both topping company records achieved during the second quarter.
The company's third-quarter 2023 results included adjusted EBITDA of $148 million and revenue of $2.77 billion.
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