Carvana Co (CVNA)
NYSE:CVNA
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Earnings Data
Report Date
Jul 30, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.4Last Year’s EPS
0.27Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple company records (units sold, revenue, adjusted EBITDA, GAAP operating income), strong execution on operational fixes (notably recon tooling and labor efficiency), and improved financial leverage (net debt/EBITDA 1.1x). Offsetting these positives were margin pressures from GPU declines, wholesale-to-retail spread compression (a $100–$200 per-unit headwind), increased advertising and overhead investments, and ongoing recon work whose benefits will take time to fully flow through. Management characterized many headwinds as transitory and reiterated a clear path to long-term margin targets, while committing to reinvesting operational gains for customers and growth. Overall, the call conveyed confidence in execution and scale, but acknowledged near-term mix and margin headwinds.Company Guidance
Record Sales and Top-Line Growth
Retail units sold reached a company record of 187,393 in Q1 (+40% year-over-year). Revenue was $6.43 billion, up 52% year-over-year, driven by unit growth and certain traditional gross revenue treatment for partner-acquired vehicles.
Record Profitability and Strong Earnings
Adjusted EBITDA was a company record of $672 million (up $184 million year-over-year) and GAAP operating income was a record $581 million (up $187 million year-over-year). Net income was $405 million (up $32 million year-over-year). Net debt to trailing twelve-month adjusted EBITDA improved to 1.1x — the strongest financial position in company history.
Meaningful Operational Improvements in Reconditioning
The reconditioning team built and rolled out new tooling (data integrations, manager decision tools, productivity tracker) that materially improved labor efficiency; April run-rates are 'just shy' of all-time best labor efficiency and HPU reverted to prior best levels. Example turnaround times show capability: a full buy-to-resell cycle can take as little as ~4.8 days in optimal cases.
Per-Unit SG&A Leverage from Scale
40% growth in retail units produced a $170 reduction in non-GAAP SG&A expense per retail unit sold, including reductions noted in operations and overhead (management cited a $36 reduction in operations expense and a $226 reduction in overhead expense components in the quarter).
Wholesale Platform and Logistics Enhancements
Carvana highlighted ADESA Clear (digital auction) as best-in-class and reported one of the highest wholesale vehicle gross profits per wholesale unit in Q1. Logistics gains produced an all-time low logistics expense per retail unit via shorter distances and faster flow.
Clear Long-Term Ambition and Path to Scale
Management reaffirmed long-term targets: selling 3 million cars per year at a 13.5% adjusted EBITDA margin (targeted 2030–2035 time frame) and reiterated confidence in the path to sustained profitable growth as they scale.
CVNA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CVNA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $79.32 | $79.16 | -0.20% |
Feb 18, 2026 | $72.31 | $66.56 | -7.95% |
Oct 29, 2025 | $70.79 | $61.01 | -13.81% |
Jul 30, 2025 | $66.72 | $78.03 | +16.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Carvana Co (CVNA) report earnings?
Carvana Co (CVNA) is schdueled to report earning on Jul 30, 2026, After Close (Confirmed).
What is Carvana Co (CVNA) earnings time?
Carvana Co (CVNA) earnings time is at Jul 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CVNA EPS forecast?
CVNA EPS forecast for the fiscal quarter 2026 (Q2) is 0.4.
