Carvana stock pops as used car retailer reports record first-quarter results

Here’s how the company performed in the first quarter, compared with average estimates compiled by LSEG:

• Earnings per share: $1.69 vs. $1.43 expected
• Revenue: $6.43 billion vs. $6.08 billion expected

The online used car retailer reported adjusted earnings before interest, taxes, depreciation and amortization of $672 million, and net income of $405 million, up from $373 million a year earlier.

Carvana reported retail sales of 187,393 units, a 40% increase compared with a year earlier. Its revenue was $6.43 billion, up 52% from a year ago.

The company does not release annual guidance but said it expects sequential increase in both retail units sold and adjusted EBITDA during the second quarter, leading to all-time company records on both metrics.

Shares of Carvana, which has a roughly $87 billion market cap, are off 6% in 2026, but are roughly 63% higher over the past year.