Carvana Co. (NYSE:CVNA) Q1 2023 Earnings Conference Call May 4, 2023 5:30 PM ET

Company Participants

Meg Kehan - IR

Ernie Garcia - CEO

Mark Jenkins - CFO

Conference Call Participants

Sharon Zackfia - William Blair

Ronald Josey - Citigroup

Adam Jonas - Morgan Stanley

Michael Montani - Evercore ISI

Seth Basham - Wedbush Securities

Nicholas Jones - JMP Securities

Rajat Gupta - JPMorgan

Alexander Potter - Piper Sandler

Winnie Dong - Deutsche Bank

Chris Bottiglieri - BNP Paribas Exane

Operator

Hello and welcome to the Carvana First Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

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

Meg Kehan

Thank you, MJ. Good afternoon, ladies and gentlemen, and thank you for joining us on Carvana's First 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 first quarter Shareholder Letter is also posted to the IR website. Additionally, we posted a set of supplemental financial tables for Q1, 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 disclosed 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. 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 metrics for all reported results can be found in our Shareholder Letter issued today, a copy of which can be found on our IR website.