Carvana Q1 2026: Record revenue $6.43B, net income $405M, adj. EBITDA $672M

CARVANA CO.

Retail units sold 187,393 (+40% YoY), setting a Q1 record; revenue up 52% to $6.432B.
GAAP net income $405M (6.3% margin); adjusted EBITDA $672M (10.4% margin); both all-time Q1 records.
GAAP operating income $581M, up $187M YoY; diluted EPS $1.69 on 148M shares.
Net income includes $42M negative impact from warrant fair value changes.
Outlook: Expects sequential Q2 records in both retail units and adjusted EBITDA; FY 2026 growth on track.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARVANA CO. reported the fiscal quarter ended March 31, 2026 results: revenue $6.432 billion, net income $405 million, EPS Basic and diluted net earnings per Class A share were $1.75 and $1.69.

Period: the fiscal quarter ended March 31, 2026
Revenue: $6.432 billion
Net income: $405 million
EPS: Basic and diluted net earnings per Class A share were $1.75 and $1.69
Result: reported results

Exact text from the filing

are versus Q1 2025 unless otherwise noted. Complete financial tables appear at the end of this letter. • Retail units sold totaled 187,393, an increase of 40% • Revenue totaled $6.432 billion, an increase of 52% • Total Gross profit was $1.271 billion, an increase of 37% • Total Gross profit per unit ("GPU") was $6,783, a decrease of $155 • Non-GAAP Total GPU was

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Source: SEC EDGAR

accession 0001690820-26-000034

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