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BUZZ-PREVIEW: Carvana's earnings likely to be supported by used car sales growth

Reuters
4 hours ago
BUZZ-PREVIEW: <a href="https://laohu8.com/S/CVNA">Carvana</a>'s earnings likely to be supported by used car sales growth

** Carvana's CVNA.N shares are up 3% at $361.90 ahead of its quarterly earnings report due after markets close on Wednesday

** Analysts expect ~48% growth in CVNA's rev amid strong growth in used car sales. Adj. EPS expected to nearly double to $1.10

** Demand for used cars has been surging as the cost of new cars has risen and with inventory constrained

** CVNA's rev has met expectations 7 times over the last 8 quarters while adj EPS has surpassed estimates 6 times

** Among 26 analysts covering CVNA, avg rating is "BUY" and median PT is $480

** CVNA is down 14.6% YTD versus the S&P 500 index .SPX, which is up 0.5%

(Reporting by Chibuike Oguh in New York)

((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))

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