Used car company Carvana's Q3 revenue up 55%, beats estimates

Carvana Co

29/10/2025 20:38

Overview

Carvana Q3 2025 revenue grows 55% YoY, beating analysts' expectations

Adjusted EBITDA for Q3 beats analyst estimates, reaching $637 mln

Carvana expects Q4 retail units sold above 150k and strong adjusted EBITDA

Outlook

Carvana expects Q4 retail units sold to exceed 150,000

Carvana anticipates 2025 Adjusted EBITDA at or above $2.2 bln

Result Drivers

RECORD RETAIL UNITS - Carvana sold 155,941 retail units in Q3, driving 44% YoY growth

VERTICALLY INTEGRATED MODEL - CEO cites structural advantages of vertically integrated model as key to growth and efficiency

PROFITABILITY - Achieved net income of $263 mln and adjusted EBITDA of $637 mln, attributed to business model

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$5.65 bln
$5.07 bln (20 Analysts)
Q3 Net Income
$263 mln
Q3 Adjusted EBITDA
Beat
$637 mln
$597.60 mln (20 Analysts)
Q3 Adjusted EBITDA Margin
11.30%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 7 "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 $440.00, about 17.7% above its October 28 closing price of $362.20

The stock recently traded at 58 times the next 12-month earnings vs. a P/E of 65 three months ago

Press Release: ID:nBw9Q45Jma

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