Carvana Reports Record Q2 Earnings and Outlines Growth Strategy
Carvana Co. (NYSE:CVNA) reported record second-quarter results with retail unit sales rising 38% year over year to 197,325 vehicles and revenue increasing by 52% to $7.38 billion. The company also achieved a new high for adjusted EBITDA at $769 million, alongside net income of $513 million and GAAP operating income of $680 million. CEO Ernie Garcia highlighted the importance of inventory expansion in driving sales growth, noting that regions with higher capacity additions saw stronger performance. Carvana plans to expand production further and expects retail unit sales to rise sequentially in Q3. The company raised its 2026 adjusted EBITDA guidance to $2.7 billion–$3.0 billion while maintaining long-term goals of reaching 3 million annual vehicle sales with a 13.5% margin by 2030-2035. CFO Mark Jenkins noted that revenue growth outpaced unit volume due in part to changes in accounting treatment and higher industry prices for newer vehicles. The company is also working on optimizing reconditioning costs while returning to inventory expansion, aiming to improve logistics efficiency and customer conversion rates.
Tickers: $CVNA
Topics: automotive ebitda retail revenue_growth