Carvana’s Q3 sales more than double, but that created its own problems

2 years ago 286

Earnings Results

Published: Nov. 4, 2021 astatine 4:51 p.m. ET

Sales apical $3 cardinal and travel successful supra Wall Street expectations

A Carvana ‘vending machine’ successful California.

AFP/Getty Images

Carvana Co. rode a continued question of request for utilized cars to astir treble its quarterly revenue, but arsenic it snapped up much vehicles to physique its inventories it ran against “significant operational constraints,” the online used-car retailer said Thursday.

Carvana CVNA said it mislaid $32 million, oregon 38 cents a share, successful the 3rd quarter, compared with a nonaccomplishment of $7 million, oregon 10 cents a share, successful the year-ago period.

Revenue...

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