Carvana Files Q3 2024 10-Q
Ticker: CVNA · Form: 10-Q · Filed: 2024-10-30T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-report, auto-retail
Related Tickers: CVNA
TL;DR
Carvana's Q3 2024 10-Q is in. Check financials for latest performance.
AI Summary
Carvana Co. filed its 10-Q for the period ending September 30, 2024. The company reported its financial results for the third quarter of 2024, detailing sales and operational performance. Specific financial figures and operational metrics for the quarter and year-to-date periods are included in the filing.
Why It Matters
This filing provides investors with the latest financial performance data for Carvana, crucial for understanding the company's current health and future prospects in the used car market.
Risk Assessment
Risk Level: medium — Carvana operates in a highly competitive and cyclical industry, facing risks related to economic downturns and changing consumer preferences.
Key Numbers
- 2024 Q3 — Reporting Period (Third quarter of 2024 financial results)
- 2024-09-30 — As of Date (Date as of which financial information is reported)
Key Players & Entities
- Carvana Co. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of reporting period
- 2024-10-30 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 30, 2024.
What is Carvana Co.'s Central Index Key (CIK)?
Carvana Co.'s Central Index Key is 0001690820.
What is Carvana's fiscal year end?
Carvana's fiscal year ends on December 31.
What is the business address of Carvana Co.?
Carvana Co.'s business address is 300 E. Rio Salado Parkway, Tempe, AZ 85281.
Filing Stats: 4,959 words · 20 min read · ~17 pages · Grade level 20 · Accepted 2024-10-30 16:16:04
Key Financial Figures
- $0.001 — stered Class A Common Stock, Par Value $0.001 Per Share CVNA New York Stock Exchange
Filing Documents
- cvna-20240930.htm (10-Q) — 1894KB
- ex31_1q32024.htm (EX-31.1) — 9KB
- ex31_2q32024.htm (EX-31.2) — 9KB
- ex32_1q32024.htm (EX-32.1) — 5KB
- ex32_2q32024.htm (EX-32.2) — 5KB
- 0001690820-24-000345.txt ( ) — 11363KB
- cvna-20240930.xsd (EX-101.SCH) — 97KB
- cvna-20240930_cal.xml (EX-101.CAL) — 110KB
- cvna-20240930_def.xml (EX-101.DEF) — 649KB
- cvna-20240930_lab.xml (EX-101.LAB) — 910KB
- cvna-20240930_pre.xml (EX-101.PRE) — 810KB
- cvna-20240930_htm.xml (XML) — 1694KB
Financial Statements
Financial Statements Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Nine Months Ended September 30, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 39 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 61 Item 4.
Controls and Procedures
Controls and Procedures 61 PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 62 Item 1A.
Risk Factors
Risk Factors 62 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 62 Item 3. Defaults Upon Senior Securities 62 Item 4. Mine Safety Disclosures 62 Item 5. Other Information 62 Item 6. Exhibits 63
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS CARVANA CO. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except number of shares, which are reflected in thousands, and par values) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 871 $ 530 Restricted cash 61 64 Accounts receivable, net 363 266 Finance receivables held for sale, net 553 807 Vehicle inventory 1,305 1,150 Beneficial interests in securitizations 463 366 Other current assets, including $ 4 and $ 3 , respectively, due from related parties 149 138 Total current assets 3,765 3,321 Property and equipment, net 2,826 2,982 Operating lease right-of-use assets, including $ 13 and $ 10 , respectively, from leases with related parties 452 455 Intangible assets, net 39 52 Other assets 286 261 Total assets $ 7,368 $ 7,071 LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable and accrued liabilities, including $ 14 and $ 7 , respectively, due to related parties $ 772 $ 596 Short-term revolving facilities 76 668 Current portion of long-term debt 209 189 Other current liabilities, including $ 13 and $ 3 , respectively, due to related parties 102 83 Total current liabilities 1,159 1,536 Long-term debt, excluding current portion 5,431 5,416 Operating lease liabilities, excluding current portion, including $ 10 and $ 7 , respectively, from leases with related parties 429 433 Other liabilities, including $ 17 and $ 11 , respectively, due to related parties 63 70 Total liabilities 7,082 7,455 Commitments and contingencies (Note 16) Stockholders' equity (deficit): Preferred stock, $ 0.01 par value - 50,000 shares authorized; none issued and outstanding as of September 30, 2024 and December 31, 2023, respectively — — Class A common stock, $ 0.001 par value - 500,000 shares authorized; 126,444 and 114,239 shares issued and outstanding as of September 30, 2024 and Decem