Carvana Co. delivered robust Q1 revenue growth of 52% YoY and significantly beat analyst top-line expectations by $322 million. Despite a softer gross profit per unit, Carvana improved SG&A efficiency and maintained respectable profitability, with EPS of $1.69 above consensus. Management guides for records in retail units sold and adjusted EBITDA in Q2, with ambitious long-term targets for 3M retail units and 13.5% adjusted EBITDA margin by 2030-2035.
CVNA tops Q1 estimates as record vehicle sales and strong revenue growth drive profits, despite a dip in per-unit margins.
At least seven major firms hiked their price targets on Carvana (NYSE:CVNA | CVNA Price Prediction) stock following the company's Q1 2026 results, with bullish revisions clustered between $465 and $600.
Carvana Co. (NYSE:CVNA) reported first quarter financial results that topped Wall Street expectations on both revenue and earnings, supported by strong growth in retail vehicle sales and record profitability. The company posted earnings per share of $1.69, ahead of analyst estimates of $1.52.
Carvana is delivering rapid growth, outpacing the used car industry with ~40% unit sales growth and strong Q1 results. CVNA's reconditioning capacity and completed capex support scaling to 1.5 million units annually, with further real estate available for expansion to 3 million units (vs. ~750k run rate today). Despite a premium valuation—31.3x EV/FY26 EBITDA—the company's secular growth and margin expansion targets support a 'growth at a reasonable price' thesis.
Although the revenue and EPS for Carvana (CVNA) give a sense of how its business performed in the quarter ended March 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Carvana (CVNA) came out with quarterly earnings of $1.69 per share, beating the Zacks Consensus Estimate of $1.42 per share. This compares to earnings of $1.51 per share a year ago.
Carvana jumped reported record results during the first quarter that topped Wall Street's expectations. The online used car retailer reported retail sales of 187,393 units, a 40% increase compared with a year earlier.
Here's our live video where we'll be taking questions and reacting to all of tonight's earnings live.
Shares of Carvana (NYSE:CVNA | CVNA Price Prediction) are trading around $400 Tuesday morning, off about 2% on the session.
Get a deeper insight into the potential performance of Carvana (CVNA) for the quarter ended March 2026 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.
In the latest trading session, Carvana (CVNA) closed at $403.02, marking a -3.3% move from the previous day.