What factors contributed to CVNA's Q4 earnings beat?

Carvana's (CVNA) Q4 earnings beat expectations due to several key factors: 1. **Revenue Outperformance**: Total revenue for Q4 was reported at $3.55 billion, surpassing analysts' expectations of $3.32 billion. This revenue surprise was driven by a 50% year-over-year increase in retail units sold in the quarter. |code|Ticker|Name|Date|Revenue Surprise|Total Revenue|market_code| |---|---|---|---|---|---|---| |CVNA|CVNA.N|Carvana|2024 Q1|3.8E8|3.061E9|169| |CVNA|CVNA.N|Carvana|2024 Q2|1.6E8|3.41E9|169| |CVNA|CVNA.N|Carvana|2024 Q3|2.1E8|3.655E9|169| |CVNA|CVNA.N|Carvana|2024 Q4|2.07E8|3.547E9|169| 2. **Strong EPS Performance**: The company reported a diluted EPS of $0.24 for the quarter, which contributed to the earnings beat. This performance was bolstered by effective cost management and operational efficiency. |code|Ticker|Name|Date|Estimate EPS|EPS Surprise|market_code| |---|---|---|---|---|---|---| |CVNA|CVNA.N|Carvana|2024 Q1|-0.67|0.9|169| |CVNA|CVNA.N|Carvana|2024 Q2|-0.06|0.2|169| |CVNA|CVNA.N|Carvana|2024 Q3|0.29|0.35|169| |CVNA|CVNA.N|Carvana|2024 Q4|0.32|0.24|169| 3. **Market Position and Growth**: Carvana's continued expansion and strong market position in the e-commerce used car retailing space have supported steady growth in sales and profitability. In summary, Carvana's Q4 earnings beat was primarily driven by strong revenue outperformance and effective cost management, contributing to robust EPS results and solidifying its market position in the used car retail sector.