Carvana posts Q2 profit, guides 2026 earnings amid mixed investor reactions
Carvana reported Q2 2026 net income of $513M on $7.38B revenue and 197,325 vehicle sales (+38% YoY), and guided full-year adjusted earnings of $2.7-$3.0B with $1.3-$1.6B in H2. The outlook fell short of some analysts’ targets (Deutsche Bank: $3.0-$3.2B; Morgan Stanley: $4.45B), sending shares lower after hours. First-half adjusted EBITDA was $1.4B ($769M in Q2) with a 10.4% margin. The company reiterates long-term goals of selling ~3 million cars annually and about a 13.5% EBITDA margin by 2030–2035, while expecting a sequential Q3 uptick in retail units.