Carvana Shares Jump 16%, Adding $11 Billion, on Record Quarter and End of Forecasts
Carvana posted its first quarter above 200,000 retail units and will stop issuing forecasts.
Carvana, the online used-car retailer, saw its shares climb 16.29% to $68.67 in Thursday trading as of 10:34 a.m. ET, adding about $11 billion in market value, the session after it reported a record third quarter. On Wednesday the company also said it will stop issuing financial forecasts and put standard accounting profit in front starting in 2027.
A first above $8 billion
Revenue rose 42% to $8.04 billion, the first quarter above $8 billion. Retail units sold climbed 39% to a record 217,385, the company reported, passing the 200,000 mark for the first time.
CEO Ernest Garcia said on the earnings call that the annual sales run rate is 870,000.
For full-year 2026, Carvana expects adjusted EBITDA at the high end of its $2.7 billion to $3.0 billion range. It anticipates more retail units sold in the fourth quarter than in the third.
Up 16% but still down on the year
The jump was on pace to be the stock's biggest one-day gain in at least 275 trading sessions, since Sept. 25, 2025.
The shares were down about 30% year to date at Wednesday's close, while the S&P 500 was up about 13%. Before Thursday's session the stock sat 38% below its highest close of the past year, set on Jan. 22, so the rally recovers only part of that ground.
A different kind of retailer
Carvana sells and buys used cars through an online platform. Customers browse online inventory, get an automated offer on their own vehicle and can arrange financing, and the company delivers to their home or to one of its car vending machines. Retail vehicle sales drive most of its revenue.
As of December 31, 2025, it offered over 75,000 vehicles on its website and had at least one licensed facility in 40 states.
Starting in 2027, holders will have reported results, not guidance, to judge the company by.
Sources
- Why Is CVNA Stock Rising 8% Overnight? — Yahoo Finance
- Carvana Stock Revs Up as Revenue Tops $8 Billion for the First Time: Here’s What to Know — benzinga.com
- Carvana beats revenue estimates as record sales offset lower GPU, profits (CVNA:NYSE) | Seeking Alpha — seekingalpha.com
- Carvana Analysts Slash Their Forecasts Following Q3 Earnings — benzinga.com
- 11 Consumer Discretionary Stocks Moving In Thursday's Pre-Market Session — benzinga.com
- The company's filing (Carvana Co.) — SEC filing
- Compared to Estimates, Carvana (CVNA) Q3 Earnings: A Look at Key Metrics — Zacks Investment Research
- Carvana Co. — Form 10-Q for the quarter ended 2026-09-30 (quarterly results) — SEC EDGAR
