Carvana Reports Record Q3 2026 Revenue and Net Income Amid Significant Scale Expansion
Carvana (CVNA) delivered record-breaking third-quarter results for 2026, reporting $8.04 billion in revenue—a 42% increase year-over-year. The company surpassed 217,000 retail units sold, marking a 39% growth rate driven by increased production capacity and market share gains. Net income rose to $483 million, supported by an adjusted EBITDA of $800 million. Despite facing headwinds from rising fuel prices and benchmark interest rates which impacted unit economics, Carvana strengthened its balance sheet through a $1.7 billion debt refinancing that yielded $45 million in annual interest savings. The company's leverage ratio reached a historic low of 0.8x net debt to TTM adjusted EBITDA. Looking ahead, management raised full-year guidance for adjusted EBITDA toward the high end of their previous range and announced a strategic shift to focus on GAAP metrics starting in 2027.
Tickers: $CVNA
Topics: debt refinancing earnings report EBITDA net income retail vehicle sales revenue growth