Wall Street analysts forecast that Carvana (CVNA) will report quarterly earnings of $0.42 per share in its upcoming release, pointing to a year-over-year increase of 61.5%. It is anticipated that revenues will amount to $6.97 billion, exhibiting an increase of 43.9% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
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 investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Carvana metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Sales and operating revenues- Retail vehicle sales, net' should arrive at $4.97 billion. The estimate suggests a change of +46% year over year.
The combined assessment of analysts suggests that 'Sales and operating revenues- Other sales and revenues' will likely reach $559.44 million. The estimate indicates a change of +36.1% from the prior-year quarter.
Analysts expect 'Sales and operating revenues- Wholesale sales and revenues' to come in at $1.28 billion. The estimate suggests a change of +25% year over year.
Analysts predict that the 'Per retail unit gross profit - Total' will reach $6796.56 . The estimate compares to the year-ago value of $7426.00 .
It is projected by analysts that the 'Unit sales - Retail vehicle unit sales' will reach 198,190 . The estimate is in contrast to the year-ago figure of 143,280 .
The consensus estimate for 'Per retail unit gross profit - Retail vehicle' stands at $3282.16 . Compared to the current estimate, the company reported $3636.00 in the same quarter of the previous year.
Analysts forecast 'Per retail unit gross profit - Other' to reach $2853.86 . The estimate is in contrast to the year-ago figure of $2869.00 .
The average prediction of analysts places 'Per unit revenue - Wholesale vehicles' at $11079.20 . The estimate is in contrast to the year-ago figure of $10746.00 .
The consensus among analysts is that 'Per unit revenue - Retail vehicles' will reach $25395.83 . Compared to the present estimate, the company reported $23765.00 in the same quarter last year.
The collective assessment of analysts points to an estimated 'Unit sales - Wholesale vehicle unit sales' of 97,755 . Compared to the current estimate, the company reported 72,770 in the same quarter of the previous year.
According to the collective judgment of analysts, 'Markets at end of period (metropolitan statistical areas)' should come in at 317 . Compared to the current estimate, the company reported 316 in the same quarter of the previous year.
Analysts' assessment points toward 'Per retail unit gross profit - Wholesale' reaching $952.00 . The estimate is in contrast to the year-ago figure of $921.00 .
View all Key Company Metrics for Carvana here>>>Over the past month, Carvana shares have recorded returns of -9.1% versus the Zacks S&P 500 composite's +0.6% change. Based on its Zacks Rank #3 (Hold), CVNA will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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