Carvana (CVNA) has reported fourth-quarter 2024 financial results that topped Wall Street forecasts.
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The online used car retailer announced earnings per share (EPS) of $0.56, which blew past consensus estimates of $0.31. Revenue in the quarter totaled $3.55 billion, which was ahead of the $3.31 billion forecast on Wall Street. The company’s sales were up 46% from a year earlier.
For all of last year, Carvana reported record revenue of $13.67 billion, up nearly 27% from $10.77 billion in 2023. Management said they sold 416,348 vehicles last year, up 33% from the year before. Total gross profit per vehicle sold last year was $6,908, up nearly $1,400 from 2023 levels.
Stock Drops
In terms of forward guidance, Carvana’s management team said they expect another “strong” year in 2025. However, Carvana provided a broad outlook for the year ahead that was light on specifics, saying that it anticipates growth in both retail units sold and earnings.
Perhaps owing to the guidance or profit taking from investors, CVNA stock fell 10% in after hours trading following the company’s print. However, the sharp decline comes after a big run in Carvana’s share price. Already in 2025, CVNA stock is up nearly 40%, bringing its 12-month gain to 444%.
Is CVNA Stock a Buy?
Carvana stock has a consensus Moderate Buy rating among 12 Wall Street analysts. That rating is based on eight Buy and four Hold recommendations issued in the last three months. The average CVNA price target of $279.92 implies 0.67% downside risk from current levels. These ratings are likely to change after the company’s latest financial results.
