Carvana shares tumble after forecasting core profit below estimates

Carvana

29/07/2026 21:57

** Shares of online used-car retailer Carvana CVNA.N slide 14% to $57.01 after the bell
** CVNA shares down 21.72% year-to-date, as of close on Wednesday
** Co's 2026 core profit forecast of $2.7 bln to $3 bln fell short of Wall Street estimates of $2.97 bln - data compiled by LSEG
** While demand for used cars has remained strong, fewer new pre-owned vehicles has kept wholesale prices higher, pressuring dealer margins across the industry.
** Carvana's net income margin for the quarter through June rose marginally to 7% compared with 6.4% a year earlier. 

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))