Carvana reports Q4 EPS ($7.61) vs ($1.02) last year

Reports Q4 revenue $2.837B, consensus $3.09B. "Ten years ago, we launched Carvana in Atlanta, Georgia. We were a passionate group of people who believed we could build something new in the world that we would be proud of. What we aimed to do was simple: to change the way people buy cars," said Ernie Garcia, founder and CEO of Carvana. "In just ten years, we have built an offering our customers love. We have brought that offering to over 300 markets across the country. We have bought and sold cars in a whole new way to millions of people. And we have laid the foundations to buy and sell to many millions more. Nothing worth doing is easy. Building Carvana has been no different. 2022 has reminded us of that again. It has undoubtedly been a challenging time, but like the challenges we have faced before, we are up to the task. Over the next 6 months, we will work to complete an estimated $1 billion in annual cost reduction and we will do it while not only maintaining, but actually improving our customer experiences. Thank you to all the passionate people who are doing all the work to make this happen. We are building something new in the world that we should be proud of. I hope you’re as proud as I am."