2 Things to Know About Carvana's Improved Outlook

Shares of online used car seller Carvana (NYSE: CVNA) rocketed higher last week after the company updated its outlook for the second quarter. Carvana now expects to report adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least $50 million, compared to a previous outlook calling for positive adjusted EBITDA. The company also sees its non-GAAP (generally accepted accounting principles) total gross profit per unit metric exceeding $6,000, which would be a new record and up 63% year over year.