Carvana Shares Plunge Over 15% Premarket as Profits Miss Estimates

Carvana (CVNA) released its fourth-quarter earnings report on Thursday. Despite beating expectations on both revenue and vehicle sales, the company's stock plunged more than 15% in pre-market trading due to weaker-than-expected profitability metrics and vague forward guidance. The report showed quarterly revenue of $5.6 billion, up 58% year-over-year and above the consensus estimate of $5.27 billion. Retail vehicle sales totaled 163,522 units, also surpassing the expected 157,226 units and marking a 58% year-over-year increase. However, disappointing profitability and a lack of clear guidance for future performance sparked investor concerns.