-=Carvana (CVNA) reported earnings on Wed 5 Aug 20 (a/h)

Carvana beats by $0.17, misses on revs
Reported upside Q2 EPS while missing on revs. Retail units sold increased +25% yr/yr to 55,098. Co noted that sales began to rebound in late April, and co saw sales growth of approx. +40% yr/yr later in the quarter; that sales strength continued into July. Co's EBITDA margin fell to (6.2)% from (3.6)%; co expects meaningful EBITDA margin improvement in Q3. Price target raised at various firms, including Wells Fargo (to $200 from $175).  

Reports Q2 (Jun) loss of $0.62 per share, $0.17 better than the S&P Capital IQ Consensus of ($0.79); revenues rose 13.4% year/year to $1.12 bln vs the $1.15 bln S&P Capital IQ Consensus.

• Retail units sold totaled 55,098, an increase of 25%.
• Total gross profit per unit was $2,726, a decrease of $406.

Co is not providing guidance due to COVID-19.