Carvana (NYSE:CVNA) shares jumped more than 26% intra-day today following the announcement of improved Q2 guidance. The company revealed that it anticipates achieving adjusted EBITDA above $50 million for the quarter, along with non-GAAP total gross profit per unit surpassing $6,000. This represents a new company record and a remarkable improvement of over 63% compared to the second quarter of the previous year.

Carvana also reported that loans sold or securitized quarter-to-date amounted to approximately $2 billion, surpassing the $1.3 billion figure as of May 4th, 2023. The company attributed its strong performance in Q1/23 to a continued emphasis on operational efficiencies.