Carvana's second-quarter earnings surpassed Wall Street's expectations for both revenue and earnings per share. The company sold over 100,000 retail vehicles, a more than 30% increase from the same quarter last year, while gross profit per vehicle was up. Carvana anticipates a record-breaking year in 2024, projecting significantly higher adjusted EBITDA than 2023. The company will offer approximately $1 billion in new stock to raise capital through an "at-the-market" offering of around 35 million shares.
