The upcoming report from Carvana (CVNA) is expected to reveal quarterly earnings of $0.24 per share, indicating an increase of 124% compared to the year-ago period. Analysts forecast revenues of $3.33 billion, representing an increase of 37.4% year over year.
Over the last 30 days, there has been an upward revision of 5.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Carvana metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Sales and operating revenues- Retail vehicle sales, net' will reach $2.39 billion. The estimate indicates a year-over-year change of +34.4%.
Analysts forecast 'Sales and operating revenues- Other sales and revenues' to reach $283.00 million. The estimate indicates a year-over-year change of +91.2%.
The collective assessment of analysts points to an estimated 'Sales and operating revenues- Wholesale sales and revenues' of $682.54 million. The estimate suggests a change of +36.8% year over year.
Analysts' assessment points toward 'Unit sales - Retail vehicle unit sales' reaching 109,418. The estimate compares to the year-ago value of 76,090.
Analysts expect 'Per retail unit gross profit - Total' to come in at $6,585.14. Compared to the present estimate, the company reported $5,283 in the same quarter last year.
Analysts predict that the 'Per retail unit gross profit - Retail vehicle' will reach $3,201.36. The estimate compares to the year-ago value of $2,812.
The combined assessment of analysts suggests that 'Per retail unit gross profit - Wholesale' will likely reach $730.99. The estimate is in contrast to the year-ago figure of $526.
The average prediction of analysts places 'Per retail unit gross profit - Other' at $2,448.53. The estimate is in contrast to the year-ago figure of $1,945.
The consensus among analysts is that 'Unit sales - Wholesale vehicle unit sales' will reach 54,625. The estimate compares to the year-ago value of 34,096.
Based on the collective assessment of analysts, 'Per unit selling prices - Retail vehicles' should arrive at $22,269.06. The estimate compares to the year-ago value of $23,354.
According to the collective judgment of analysts, 'Per unit selling prices - Wholesale vehicles' should come in at $9,455.25. Compared to the present estimate, the company reported $8,623 in the same quarter last year.
The consensus estimate for 'Markets at end of period' stands at 316. The estimate is in contrast to the year-ago figure of 316.
View all Key Company Metrics for Carvana here>>>
Over the past month, shares of Carvana have returned +25.2% versus the Zacks S&P 500 composite's +3.9% change. Currently, CVNA carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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