Entering text into the input field will update the search result below

Carvana's (CVNA) CEO Ernie Garcia on Q1 2020 Results - Earnings Call Transcript

May 07, 2020 12:24 AM ETCarvana Co. (CVNA) Stock14 Comments
SA Transcripts profile picture
SA Transcripts

Carvana Co. (NYSE:CVNA) Q1 2020 Earnings Conference Call May 6, 2020 5:30 PM ET

Company Participants

Mike Levin – Vice President-Investor Relations

Ernie Garcia – Chief Executive Officer

Mark Jenkins – Chief Financial Officer

Conference Call Participants

Zack Fadem – Wells Fargo

Colin Sebastian – Baird

Lee Krowl – B. Riley FBR

Brian Nagel – Oppenheimer

Sharon Zackfia – William Blair

Armintas Sinkevicius – Morgan Stanley

Andrew Boone – JMP Securities

Rajat Gupta – JPMorgan

Rick Nelson – Stephens

Nick Jones – Citi

Mike Montani – Evercore

Brad Erickson – Needham & Company


Good day, and welcome to the Carvana First Quarter 2020 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, today’s event is being recorded.

I would now like to turn the conference over to Mike Levin, Vice President of Investor Relations. Please proceed.

Mike Levin

Thank you, Eric. Good afternoon, ladies and gentlemen, and thank you for joining us on Carvana's first quarter earnings conference call. Please note that this call will simultaneously be webcast on the Investor Relations section of the company's corporate website at investors.carvana.com. The first quarter shareholder letter is also posted on the IR website. Joining me on the call today are Ernie Garcia, Chief Executive Officer; and Mark Jenkins, Chief Financial Officer.

Before we start, I would like to remind you that the following discussion contains forward-looking statements within the meaning of the federal securities laws, including, but not limited to, Carvana's market opportunities and future financial results that involve risks and uncertainties that may cause actual results to differ materially from those discussed here. A detailed discussion of the material factors that cause actual results to differ from forward-looking statements can be found in the Risk Factors

Recommended For You

Comments (14)

Value Digger profile picture
I will not comment on the analysts who often do what their employers (i.e. banks) tell them to do.

But there are still fund managers who still keep this unprofitable highly leveraged cash incinerator a.k.a. CVNA currently valued at $16 billion in their portfolios despite these extremely ugly results in Q1 2020.

And Q2 will be uglier than Q1.

It never ceases to amaze how many grossly incompetent fund managers exist gambling with others' money.

It's very unfair that these fund managers still have a job.

All these fund managers should be unemployed, in my opinion.

CVNA is the EPITOME of the DISCONNECT between fundamentals and Enterprise Value.
Krypto profile picture
@Value Digger Wow - 150 times price to book, constant and unending losses every year, debt half of revenues, and pretending to ship cars all over the country cheaper than some guy can place an ad on craigslist to dump his car locally?

I love their complicated looking contraption to warehouse the cars at their dealerships but it has to be far more costly than just parking a used car on a lot. How is the price so high? What am I missing?

Why isn't this thing 10 bucks per share? (Does Tesla secretly own it?)
@SEC_Enforcement Just look at the balance sheet of Carvana. it is terrible and may bancrupt at anytime during pandemic. Why it is still trading in all time high price? Insider may lure many retail investors and hurt them. SEC, Please do investigation!
wtf, NO ONE asked about defaults?
Dinesh S profile picture
what a joke...Stock turned positive
Value Digger profile picture
A bunch of shockingly ugly reviews about CVNA below:


It's worth reading.
pat45 profile picture
yep, many of their cars have problems and returns are not easy especially if you do not want to try another one and get some of your money back
cedarwoodken profile picture
Reviews are bad at the BBB but they do have an A+ rating so they are responding to the complaints filed there.

You grow market share through repeat business, which they will not have based on the real reviews, and conquest sales through advertising which is very expensive and will never lead to profitability.
Dinesh S profile picture
Questions asked as usual , no one asked when they will be profitable
Upgrades or downgrades from the analysts? What to expect?
Tyrann1 profile picture
@againstodds is this seriously how you go about making your stock decisions?
I am joking... You know what I expect
To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!

About CVNA

SymbolLast Price% Chg
Market Cap
Yield (TTM)
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on CVNA

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.