Carvana ($CVNA@US) has announced it expects to achieve positive adjusted earnings in the second quarter, earlier than expected, due to a restructuring focused on profits over growth. The used car retailer beat Wall Street expectations in the first quarter for adjusted losses per share, recording a loss of $1.51 per share, versus Refinitiv consensus estimates of $2. Sales during the first quarter were ahead of expectations at 79,240 units, compared with a previously stated forecast of 76,000 and 79,000 units. Carvana has been reducing costs, narrowing losses, and increasing profits per vehicle. The company's stock rose over 25 percent in extended trading on Thursday, closing at $7.20 per share.