Carvana Co.’s bonds rose Friday, after the online used-car seller surprised investors with fourth-quarter earnings that highlighted some positive metrics. The company’s loss was wider than expected and revenue fell below forecasts. But Carvana
CVNA,
+33.80%
reported record gross profit per unit (GPU) and projected that adjusted Ebitda would top $100 million in the first quarter, which was better than a FactSet consensus at the end of January of under $80 million. (Ebitda, or earnings before interest, taxes, depreciation and amortization, is often used as a profit metric although it’s closer to cash flow than net profit.)
For more, read: How Carvana caused a Wall Street whiplash, as the stock soars to a 2-year high The stock soared 39% on Friday, while the bonds added 3 1/2 cents to 7 cents, as the following chart from data solutions provider BondCliQ Media Services shows. The blue line represents the 12% bonds that mature in 2028. The red line is the 13% bonds that mature in 2030 and the orange line is the 14% bonds that mature in 2031. The latter is showing the biggest gain.
Two-week price performance of select Carvana bonds.
BondCliQ Media Services
…
Article Attribution | Read More at Article Source
CVNA,
+33.80%
reported record gross profit per unit (GPU) and projected that adjusted Ebitda would top $100 million in the first quarter, which was better than a FactSet consensus at the end of January of under $80 million. (Ebitda, or earnings before interest, taxes, depreciation and amortization, is often used as a profit metric although it’s closer to cash flow than net profit.)
For more, read: How Carvana caused a Wall Street whiplash, as the stock soars to a 2-year high The stock soared 39% on Friday, while the bonds added 3 1/2 cents to 7 cents, as the following chart from data solutions provider BondCliQ Media Services shows. The blue line represents the 12% bonds that mature in 2028. The red line is the 13% bonds that mature in 2030 and the orange line is the 14% bonds that mature in 2031. The latter is showing the biggest gain.
Two-week price performance of select Carvana bonds.
BondCliQ Media Services
…nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]