Carvana's Q2 Profit Exceeds Expectations, Stock Surges.
TL;DR Summary
Carvana, the largest online used car retailer in the US, announced that it expects to report a profit in Q2 2021, causing its stock to surge by over 40%. While the company's Q1 adjusted EPS loss of $1.51 beat analyst expectations, its debt load of $8.7 billion has been a burden on its stock price. However, a debt-for-equity swap offered by bondholders may provide a "potentially BIG lifeline" for Carvana, according to Oppenheimer analyst Brian Nagel.
- Carvana stock surges as used-car dealer sees Q2 profit Yahoo Finance
- Carvana stock jumps on Q2 profit expectations Yahoo Finance
- Carvana surges 24% after company says its will achieve adjusted profit sooner than expected CNBC
- Why Carvana Stock Soared Today The Motley Fool
- Carvana Soars Most Since 2020 on Narrower-Than-Expected Loss Yahoo Finance
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