Carvana to Report First Quarter Results on April 20 and Expects to Close Acquisition of ADESA U.S. in May

Rhea-AI Summary

Carvana Co. (NYSE: CVNA) announced the expected closure of its acquisition of the ADESA U.S. physical auction business in May 2022. The company will report its first quarter financial results on April 20, 2022, after market close. A conference call is scheduled for 5:30 p.m. ET to discuss the results, which can be accessed live or via a replay. The press release also contains forward-looking statements regarding the acquisition, highlighting potential risks and uncertainties.

Positive

• Expected acquisition of ADESA U.S. physical auction business, enhancing Carvana's market position.
• Scheduled financial results could positively influence investor sentiment.

Negative

• Forward-looking statements include risks related to acquisition completion.
• Uncertainties surrounding the acquisition timeline may affect stock volatility.

PHOENIX--(BUSINESS WIRE)-- Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars online, today announced it currently expects to close its acquisition of the ADESA U.S. physical auction business in May 2022. To facilitate this closing timeline, Carvana will report its first quarter financial results for the period ended March 31, 2022 following the close of market on Wednesday, April 20, 2022. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company's business and results.

What: Carvana First Quarter Financial Results Conference Call
When: Wednesday, April 20, 2022
Time: 5:30 p.m. ET (2:30 p.m. PT)
Live Call: (833) 255-2830 or (412) 902-6715

An archived webcast of the conference call will be accessible from the Investor Relations section of the company's website, https://investors.carvana.com/. A telephonic replay of the conference call will be available until Wednesday, April 27, 2022, by dialing (877) 344-7529 or (412) 317-0088 and entering passcode 8325992#.

Forward Looking Statements

This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Carvana’s current expectations and projections with respect to, among other things, its ability to complete and finance the acquisition of the ADESA U.S. physical auction business on the anticipated timeframe, if at all. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” “will,” the negatives thereof and other words and terms of similar meaning. Forward-looking statements include all statements that are not historical facts. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Among these factors are risks related to the “Risk Factors” identified in Carvana’s Annual Report on Form 10-K for 2021. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. Carvana does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.

About Carvana (NYSE: CVNA)

Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy and sell cars. With a continued focus on its customers, technology and innovation, Carvana offers an intuitive and convenient online car buying, selling, and financing experience. Carvana.com enables consumers to quickly and easily shop thousands of vehicles, finance, trade in or sell their current vehicle to Carvana, sign contracts, and schedule delivery or pickup at one of its patented, automated Car Vending Machines. Carvana is a Fortune 500 company, providing as-soon-as-next-day delivery to customers in over 300 U.S. markets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220414005361/en/

Investor Relations:

Carvana

Mike Levin

investors@carvana.com

or

Media Contact:

Carvana

Kristin Thwaites

press@carvana.com

Source: Carvana

FAQ

What is the expected date for Carvana's acquisition of ADESA?

Carvana expects to close its acquisition of ADESA in May 2022.

When will Carvana report its first quarter financial results?

Carvana will report its first quarter financial results on April 20, 2022.

What time is Carvana's conference call to discuss financial results?

The conference call is scheduled for 5:30 p.m. ET on April 20, 2022.

What risks are associated with Carvana's acquisition of ADESA?

The acquisition comes with various risks and uncertainties, including the ability to complete and finance the deal.

How can investors access Carvana's conference call?

Investors can access the conference call live or via a replay by dialing the provided numbers.