Carvana posts record Q2 earnings but stock slides on lower 2026 outlook

Carvana Q2 earnings adjusted EBITDA guidance stock drop analyst price targets

Carvana reported record second‑quarter results. Retail unit sales rose 38% year‑over‑year to 197,325 vehicles. Revenue reached $7.38 billion, up 52% from the prior year. Adjusted EBITDA hit a record $769 million and net income was $513 million.

The company projected full‑year 2026 adjusted EBITDA of $2.7‑$3.0 billion, a midpoint below the Bloomberg consensus of about $3.0 billion. Gross profit per unit fell 6% year‑over‑year, and analysts noted margin pressure.

The guidance triggered a sell‑off. Shares dropped roughly 8% in pre‑market trading and fell as much as 19% in after‑hours trading. Several brokerages cut price targets, with Citigroup lowering its target to $90 and other firms setting objectives between $67 and $80.

Entities

Carvana · Ernie Garcia · Mark Jenkins

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 4 SOURCES] Q2 revenue was $7.38 billion, up 52% year‑over‑year. www.marketbeat.com · nemosnewsnetwork.com · bitfinanzas.com · newsable.asianetnews.com
[● 4 SOURCES] Adjusted EBITDA for Q2 was $769 million, a record for the company. www.marketbeat.com · nemosnewsnetwork.com · bitfinanzas.com · newsable.asianetnews.com
[● 4 SOURCES] Carvana reported Q2 retail unit sales of 197,325, up 38% year‑over‑year. www.marketbeat.com · nemosnewsnetwork.com · bitfinanzas.com · newsable.asianetnews.com
[● 2 SOURCES] Carvana shares fell about 8% in pre‑market trading and up to 19% in after‑hours trading after the guidance release. nemosnewsnetwork.com · newsable.asianetnews.com
[● 2 SOURCES] Net income for Q2 was $513 million. www.marketbeat.com
[● 3 SOURCES] Carvana forecast 2026 adjusted EBITDA of $2.7‑$3.0 billion, below the Bloomberg consensus of about $3.0 billion. nemosnewsnetwork.com · bitfinanzas.com · newsable.asianetnews.com
[● 2 SOURCES] Gross profit per unit fell 6% year‑over‑year. bitfinanzas.com · newsable.asianetnews.com
[○ 1 SOURCE] Analyst firms, including Citigroup, lowered Carvana price targets, with Citigroup cutting its target to $90. www.marketbeat.com

Sources

Carvana Crashes After Earnings Outlook Disappoints Wall Street | Nemos News Network [nemosnewsnetwork.com]

18 days ago

Carvana Q2 Earnings Call Highlights [www.marketbeat.com]

19 days ago

Citigroup Has Lowered Expectations for Carvana (NYSE:CVNA) Stock Price [www.marketbeat.com]

17 days ago

Carvana cae en bolsa porque su previsión para 2026 queda por debajo de lo esperado [bitfinanzas.com]

19 days ago

Why Did CVNA Stock Drop After-Hours Despite Q2 Beat? [newsable.asianetnews.com]

19 days ago