Analysts on Wall Street project that Carvana (CVNA) will announce quarterly earnings of $1.10 per share in its forthcoming report, representing an increase of 96.4% year over year. Revenues are projected to reach $5.19 billion, increasing 46.3% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Carvana metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Sales and operating revenues- Retail vehicle sales, net' should arrive at $3.80 billion. The estimate indicates a change of +48.9% from the prior-year quarter.
Analysts expect 'Sales and operating revenues- Other sales and revenues' to come in at $434.07 million. The estimate indicates a change of +36.9% from the prior-year quarter.
Analysts' assessment points toward 'Sales and operating revenues- Wholesale sales and revenues' reaching $945.49 million. The estimate indicates a change of +39.5% from the prior-year quarter.
Analysts predict that the 'Per retail unit gross profit - Total' will reach $6780.51 . Compared to the current estimate, the company reported $6671.00 in the same quarter of the previous year.
The consensus among analysts is that 'Unit sales - Retail vehicle unit sales' will reach 157,216 . Compared to the present estimate, the company reported 114,379 in the same quarter last year.
According to the collective judgment of analysts, 'Per retail unit gross profit - Retail vehicle' should come in at $3198.55 . The estimate compares to the year-ago value of $3226.00 .
The combined assessment of analysts suggests that 'Per retail unit gross profit - Other' will likely reach $2983.05 . The estimate compares to the year-ago value of $2771.00 .
The consensus estimate for 'Per unit revenue - Wholesale vehicles' stands at $10326.34 . Compared to the current estimate, the company reported $9371.00 in the same quarter of the previous year.
Analysts forecast 'Per unit revenue - Retail vehicles' to reach $24019.17 . Compared to the current estimate, the company reported $22312.00 in the same quarter of the previous year.
It is projected by analysts that the 'Unit sales - Wholesale vehicle unit sales' will reach 67,233 . Compared to the present estimate, the company reported 48,770 in the same quarter last year.
The collective assessment of analysts points to an estimated 'Markets at end of period (metropolitan statistical areas)' of 316 . The estimate compares to the year-ago value of 316 .
The average prediction of analysts places 'Per retail unit gross profit - Wholesale' at $586.51 . The estimate is in contrast to the year-ago figure of $674.00 .
View all Key Company Metrics for Carvana here>>>
Shares of Carvana have experienced a change of -20.6% in the past month compared to the -0.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CVNA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Carvana Co. (CVNA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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