Carvana Q1 revenue jumps 52%, beats estimates

Carvana Co

29/04/2026 21:21

Overview

U.S. used-car e-commerce platform's Q1 revenue rose 52% yr/yr, beating analyst expectations

Adjusted EBITDA for Q1 reached a record and beat analyst expectations

Company expects sequential growth in retail units sold and Adjusted EBITDA in Q2 2026

Outlook

Carvana expects Q2 2026 retail units sold and Adjusted EBITDA to reach all-time company records

Company remains on track for significant growth in retail units sold and Adjusted EBITDA in FY 2026

Result Drivers

RETAIL UNIT GROWTH - Co said 40% yr/yr increase in retail units sold drove record Q1 results

VERTICALLY INTEGRATED MODEL - Co attributed growth to its model making car buying and selling easier and more efficient

WARRANT FAIR VALUE IMPACT - Co said Q1 net income was negatively impacted by $42 mln from changes in fair value of warrants

Company press release: ID:nBw4w3s84a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$6.43 bln
$6.08 bln (19 Analysts)
Q1 Net Income
$405 mln
Q1 Adjusted EBITDA
Beat
$672 mln
$648.86 mln (19 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy"

Wall Street's median 12-month price target for Carvana Co is $430.00, about 5.8% above its April 28 closing price of $406.42

The stock recently traded at 51 times the next 12-month earnings vs. a P/E of 60 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)