Carvana Reports Record Q2 Beat — Stock Falls Anyway
Carvana Co. (NYSE: CVNA ) shares are trading lower Thursday after the company reported second-quarter financial results. Also, Needham and Morgan Stanley lowered their respective price targets on the stock. Carvana stock is showing notable weakness. What’s behind CVNA decline? Carvana’s Growth Streak Hits 10 Quarters Carvana reported earnings per share of 42 cents, beating the consensus estimate of 36 cents. In addition, it reported revenue of $7.37% billion, beating the consensus estimate of $6.90 billion. Carvana sold 197,325 retail units, up 38% year-over-year, marking an all-time quarterly record. Net income came in at a record $513 million, up $205 million year-over-year, while adjusted EBITDA reached a record $769 million, up $168 million year-over-year. GAAP operating income also hit a record $680 million, up $169 million year-over-year. “Q2 2026 was Carvana’s...
Carvana Co. (NYSE: CVNA ) shares are trading lower Thursday after the company reported second-quarter financial results.
Also, Needham and Morgan Stanley lowered their respective price targets on the stock.
Carvana stock is showing notable weakness.
What’s behind CVNA decline? Carvana’s Growth Streak Hits 10 Quarters Carvana reported earnings per share of 42 cents, beating the consensus estimate of 36 cents.
In addition, it reported revenue of $7.37% billion, beating the consensus estimate of $6.90 billion.
Carvana sold 197,325 retail units, up 38% year-over-year, marking an all-time quarterly record.
Net income came in at a record $513 million, up $205 million year-over-year, while adjusted EBITDA reached a record $769 million, up $168 million year-over-year.
GAAP operating income also hit a record $680 million, up $169 million year-over-year. “Q2 2026 was Carvana’s 10th consecutive quarter of industry-leading growth and profitability, and it was made possible by the foundations we laid in the 10 years prior,” said Ernie Garcia, Carvana founder and CEO. “At Carvana’s current run-rate scale of almost 800k retail units and over $2 billion net income, we are still just 1.5% of the U.S. automotive market.” Q3, FY Guidance Carvana expects a sequential increase in retail units sold in the third quarter and full-year 2026 adjusted EBITDA of $2.7 billion to $3.0 billion.
Analyst Consensus & Recent Actions The stock carries a Buy rating with an average price forecast of $116.72.
Recent analyst moves include: Morgan Stanley: Overweight (Lowers Target to $90.00) (July 30) BTIG: Buy (Lowers Target to $87.00) (July 30) Needham: Buy (Maintains Target to $120.00) (July 30) Read Also: Stock Market Today: S&P 500, Nasdaq 100 Futures Gain as Federal Reserve Holds Interest Rates—Meta, Microsoft, Apple in Focus Carvana Shares Crash CVNA Price Action: At the time of publication, Carvana shares are trading 14.22% lower at $56.89, according to data Pro.
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