NYSE$CVNA
Carvana Co · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Carvana experienced substantial growth and faced challenges in Q4 2021.
Carvana's Q4 2021 saw significant growth in retail units sold, revenue, and gross profit, but also an increased net loss. The company achieved significant milestones, including selling its 1 millionth car and first profitable quarter in Q2 2021, but faced challenges at the end of 2021 and start of 2022 due to the Omicron wave, rising interest rates, and vehicle price increases.
- Retail units sold increased by 57% to 113,016.
- Revenue increased by 105% to $3.753 billion.
- Total gross profit increased by 111% to $516 million.
- Net loss increased to $182 million from $154 million.
Headline financials
Revenue & EPS history
Carvana · Revenue · Quarterly
$3.75B
Forward guidance
Carvana anticipates significant growth and strong financial performance in 2022, aiming to become the largest and most profitable automotive retailer. The company expects retail units sold to exceed 550,000 in FY 2022. Following a challenging Q1, Q2-Q4 are expected to yield a total GPU over $4,000 and approximately breakeven EBITDA margin.
Tailwinds
- Expects to grow retail units sold to over 550k in FY 2022.
- Following the first quarter, in Q2 through Q4 taken in aggregate, expects total GPU over $4,000
- Following the first quarter, in Q2 through Q4 taken in aggregate, expects approximately breakeven EBITDA margin.
- Acquisition of ADESA U.S. is expected to close in the second quarter of 2022
- Acquisition of ADESA U.S. will increase production capacity by approximately 2M units per year once fully built out over time.
Headwinds
- The first quarter is expected to be a tough quarter due to supply chain challenges brought on by the Omicron variant and severe winter storms.
- The first quarter is expected to be a tough quarter due to the recent rapid increase in short-term interest rates.
- These effects are expected to have a significant impact on total GPU and SG&A per retail unit sold in Q1.
- The company expects an EBITDA margin loss in the mid-single digit range in Q1.
- Q1 will see higher wholesale depreciation rates than in prior quarters, leading to an expected reduction in wholesale GPU.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
+8.0%
Avg return
Earnings day
+6.8%
Avg return
5 days after
+12.7%
Avg return
30 days after
62%
23 / 37 earnings
Positive
+40.7%
Q1 2017
Best reaction
-35.0%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.3% | -4.4% | -8.1% | |
| Q4 2025 | +16.3% | -10.1% | -22.2% | |
| Q3 2025 | -8.4% | -12.5% | +5.8% | |
| Q2 2025 | +17.0% | +5.1% | +11.5% | |
| Q1 2025 | +10.2% | +13.1% | +31.8% | |
| Q4 2024 | -12.1% | -21.3% | -32.2% | |
| Q3 2024 | +18.5% | +8.3% | +24.8% | |
| Q2 2024 | +15.6% | +6.8% | +18.8% | |
| Q1 2024 | +40.5% | +48.3% | +20.6% | |
| Q4 2023 | +40.1% | +62.8% | +74.0% | |
| Q3 2023 | +24.2% | +31.5% | +35.4% | |
| Q2 2023 | +17.4% | +16.2% | -1.5% | |
| Q1 2023 | +26.7% | +67.6% | +121.8% | |
| Q4 2022 | -20.5% | -6.5% | -18.7% | |
| Q3 2022 | -35.0% | -45.4% | -40.1% | |
| Q2 2022 | +34.6% | +18.7% | -9.5% | |
| Q1 2022 | -18.3% | -20.2% | -67.0% | |
| Q4 2021 | +34.2% | +27.6% | +13.1% | |
| Q3 2021 | -1.2% | -1.8% | -13.3% | |
| Q2 2021 | +4.5% | +11.8% | -0.7% | |
| Q1 2021 | -11.7% | -14.8% | -0.3% | |
| Q4 2020 | -0.5% | +10.5% | -9.1% | |
| Q3 2020 | -8.7% | -5.9% | +22.7% | |
| Q2 2020 | +33.8% | +14.1% | +12.2% | |
| Q1 2020 | +13.6% | +17.1% | +34.7% | |
| Q4 2019 | -14.7% | -20.8% | -52.9% | |
| Q3 2019 | -10.3% | -4.9% | +6.0% | |
| Q2 2019 | +21.2% | +31.1% | +39.9% | |
| Q1 2019 | +5.9% | -12.4% | -11.0% | |
| Q4 2018 | +10.8% | +3.9% | +43.4% | |
| Q3 2018 | +14.3% | -2.3% | -20.7% | |
| Q2 2018 | +8.4% | +13.8% | +30.4% | |
| Q1 2018 | +7.2% | +8.9% | +44.3% | |
| Q4 2017 | -6.3% | -3.2% | +25.2% | |
| Q3 2017 | -10.4% | -13.3% | +34.6% | |
| Q2 2017 | -2.6% | -12.1% | +1.0% | |
| Q1 2017 | +40.7% | +47.8% | +124.2% | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — |
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