Carvana Co. (NYSE:CVNA) Q2 2023 Earnings Call Transcript July 19, 2023 8:00 AM ET

Company Participants

Meg Kehan - IR

Ernie Garcia - CEO

Mark Jenkins - CFO

Conference Call Participants

Ronald Josey - Citigroup

Michael Montani - Evercore ISI

Seth Basham - Wedbush Securities

Benjamin Johnson - Piper Sandler

Michael Baker - D.A. Davidson

Chris Bottiglieri - BNP Paribas Exane

Rajat Gupta - JPMorgan

Brad Erickson - RBC

Brian Nagel - Oppenheimer

Nicholas Jones - JMP

Operator

Good day, and welcome to the Carvana Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions]. Please note, today's event is being recorded.

I would now like to turn the conference over to Meg Kehan with Investor Relations. Please go ahead.

Meg Kehan

Thank you, Rocco. Good morning, ladies and gentlemen, and thank you for joining us on Carvana's Second Quarter 2023 Earnings Conference Call. Please note that this call will be simultaneously webcast on the Investor Relations section of the company's corporate website at investors.carvana.com.

The second quarter shareholder letter is also posted to the IR website. Additionally, we posted a set of supplemental financial tables for Q2, which can be found on the Events and Presentations page of our IR website. Joining me on the call today are Ernie Garcia, Chief Executive Officer; and Mark Jenkins, Chief Financial Officer.

Before we start, I would like to remind you that the following discussion contains forward-looking statements within the meaning of the federal securities laws, including, but not limited to, Carvana's market opportunities and future financial results that involve risks and uncertainties that may cause actual results to differ materially from those discussed here. A detailed discussion of the material factors that cause actual results to differ from forward-looking statements can be found in the Risk Factors section of Carvana's most recent Form 10-K and Form 10-Q.

The forward-looking statements and risks in this conference call are based on current expectations as of today, and Carvana assumes no obligation to update or revise them whether as a result of new developments or otherwise. Our commentary today will include non-GAAP financial metrics. Unless otherwise specified, all references to GPU and SG&A will be to the non-GAAP metrics and all references to EBITDA will be to adjusted EBITDA. Reconciliations between GAAP and non-GAAP financial metrics for our reported results can be found in our shareholder letter issued today, a copy of which can be found on our IR website.