
• Reported GAAP EPS of $1.75 up 8.70% YoY • Reported revenue of $6.43B up 51.98% YoY • Carvana expects a sequential increase in Q2 2026 retail units sold and Adjusted EBITDA, leading to new company records. Carvana remains on track for significant growth in both metrics for FY 2026.
Bullish
Carvana achieved record Q1 2026 retail units and total revenue, demonstrating strong year-over-year growth. Carvana also delivered record profitability, supported by its efficient, vertically integrated model.
Bearish
Carvana's Q1 2026 Net Income was negatively impacted by $42 million from warrant fair value changes, while Net Income and Adjusted EBITDA margins compressed. Carvana also faces a highly competitive industry.