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Carvana Boosts Profit Forecast as Turnaround Gains Momentum

(Bloomberg) — Carvana Co. raised its profit outlook as the used-car retailer said the momentum it saw from an early-year turnaround is carrying into the third quarter.

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Adjusted earnings before interest, taxes, depreciation and amortization will be more than $75 million in the current three-month period, according to a statement Wednesday. That compares with a prior outlook of “positive” adjusted ebitda and a consensus analyst estimate of $45.7 million.