Earnings Releases·Oct 28, 2026, 4:05 PM ET

Carvana — Q3 2026 Earnings Summary

Revenue grew 42% YoY to $8.04 billion and retail units sold increased 39% YoY to 217,385, while Net Income rose $220 million YoY to $483 million and Adjusted EBITDA increased $163 million YoY to $800 million.
Full-year 2026 Adjusted EBITDA guidance is raised to the higher end of the $2.7–$3.0 billion range, with Q4 2026 expected to see sequential unit growth; however, the company will cease providing quarterly/annual financial outlooks starting Q4 2026 in favor of long-term goals.
Strategic shifts include a 2027 transition to GAAP reporting for primary metrics, expansion of integrated ADESA production capacity to support a 3 million unit annual run rate by 2030–2035, and the addition of seven Stellantis franchise dealerships to its digital platform.
Liquidity resources increased to $7.503 billion as of September 30, 2026, though unit economics faced headwinds from fuel prices and interest rates, and Net Income was reduced by a $53 million loss on debt extinguishment.