Carvana stock drops after hours after earnings — record sales, but costs and outlook rattle CVNA
Carvana shares fell 14.8% to $308.10 in after-hours trading after fourth-quarter adjusted EBITDA missed estimates, despite record revenue of $5.603 billion and unit sales of 163,522. The company cited higher reconditioning costs and faster vehicle depreciation as key pressures. Carvana expects reconditioning costs to remain elevated in the first quarter.