Transportation
Carvana’s Record Vehicle Sales Lift Profit Above Estimates
A worker loads vehicles onto a transporter at a Carvana vending machine location in Uniondale, New York.
Photographer: Angus Mordant/BloombergCarvana Co.’s first-quarter profit exceeded Wall Street expectations as used-car volumes hit a record and loan sales grew.
The online auto retailer on Wednesday reported adjusted earnings before interest, taxes, depreciation and amortization of $672 million, ahead of the $657.1 million average estimate of analysts surveyed by Bloomberg.