Carvana Announces Fourth Quarter and Full Year 2020 Results
February 25 2021 - 4:05PM
Business Wire
Fourth Quarter
2020 Retail Units Sold of 72,172, an increase of 43% YoY
Revenue of $1.826 Billion, an increase of 65% YoY Total Gross
Profit of $243.9 Million, an increase of 71% YoY Vehicles Purchased
Directly from Customers up 110% YoY
Full Year 2020
Retail Units Sold of 244,111, an increase of 37% YoY Revenue of
$5.587 Billion, an increase of 42% YoY Total Gross Profit of $793.8
Million, an increase of 57% YoY Vehicles Purchased Directly from
Customers up 95% YoY
Carvana Co. (NYSE: CVNA), the leading e-commerce platform for
buying and selling used cars, today announced financial results for
the quarter and year ended December 31, 2020. Carvana’s complete
fourth quarter and full year 2020 financial results and management
commentary can be found by accessing the Company’s shareholder
letter on the quarterly results page of the investor relations
website.
“2020 highlighted the strengths of our business model and
validated our vision for the future of car buying,” said Ernie
Garcia, founder and CEO of Carvana. “We’re extremely proud of how
our team navigated an unprecedented year of constant adaptation.
Their exceptional execution and relentless focus on delivering the
best experiences to our customers vaulted us to becoming the second
largest seller of used cars in the country, another meaningful
milestone in our march to becoming the largest and most profitable
automotive retailer.”
Conference Call Details
Carvana will host a conference call today, February 25, 2021, at
5:30 p.m. EST (2:30 p.m. PST) to discuss financial results. To
participate in the live call, analysts and investors should dial
(833) 255-2830 or (412) 902-6715 and ask for “Carvana Earnings.” A
live audio webcast of the conference call along with supplemental
financial information will also be accessible on the company's
website at https://investors.carvana.com/. Following the webcast,
an archived version will also be available on the Investor
Relations section of the company’s website. A telephonic replay of
the conference call will be available until March 4, 2021, by
dialing (877) 344-7529 or (412) 317-0088 and entering passcode
10151970#.
Forward Looking
Statements
This letter contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect Carvana’s current
expectations and projections with respect to, among other things,
its financial condition, results of operations, plans, objectives,
future performance, and business. These statements may be preceded
by, followed by or include the words "aim," "anticipate,"
"believe," "estimate," "expect," "forecast," "intend," "likely,"
"outlook," "plan," "potential," "project," "projection," "seek,"
"can," "could," "may," "should," "would," "will," the negatives
thereof and other words and terms of similar meaning.
Forward-looking statements include all statements that are not
historical facts. Such forward-looking statements are subject to
various risks and uncertainties. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. Among
these factors are risks related to the “Risk Factors” identified in
our Annual Report on Form 10-K for 2020. There is no assurance that
any forward-looking statements will materialize. You are cautioned
not to place undue reliance on forward-looking statements, which
reflect expectations only as of this date. Carvana does not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
About Carvana (NYSE: CVNA)
Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA)
mission is to change the way people buy cars. By removing the
traditional dealership infrastructure and replacing it with
technology and exceptional customer service, Carvana offers
consumers an intuitive and convenient online car buying and
financing platform. Carvana.com enables consumers to quickly and
easily shop more than 20,000 vehicles, finance, trade-in or sell
their current vehicle to Carvana, sign contracts, and schedule
as-soon-as-next-day delivery or pickup at one of Carvana’s
patented, automated Car Vending Machines.
For further information on Carvana, please visit
www.carvana.com, or connect with us on Facebook, Instagram or
Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20210225005920/en/
Investor Relations: Carvana Mike Levin
investors@carvana.com or Media Contact: Carvana Amy O’Hara
press@carvana.com
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