Carvana Shares Rise After Record Quarterly Sales
The online used-car retailer reported third-quarter revenue above analyst expectations, though earnings per share fell short of estimates.
Updated on Nov. 2, 2026 in Buying/Selling
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Carvana Co. shares rose Monday after the company reported third-quarter revenue of $8.04 billion, topping expectations of $7.70 billion. Earnings of 39 cents per share missed the 44-cent estimate.
Why it matters
Revenue growth and full-year guidance drew investor attention more than post-results price target cuts from several analysts. The results show continued expansion in online used-vehicle sales.
Carvana reported 217,385 retail units sold, a 39% increase to a record, and revenue rose 42% year over year to $8.04 billion. The company guided full-year adjusted EBITDA toward the high end of its $2.7 billion to $3 billion range.
The players
Carvana Co.
Carvana is an online retailer of used vehicles that also offers financing, wholesale sales and related service products.
Needham
Needham is an independent investment research firm that maintained its Buy rating on Carvana while cutting its price forecast to $100 from $120.
BTIG
BTIG is a brokerage and investment firm that maintained its Buy rating on Carvana while lowering its forecast to $82 from $87.
The details
Carvana's retail vehicle business is its main revenue driver, supplemented by wholesale sales, financing, vehicle service contracts and GAP waiver coverage. The company also refinanced $1.7 billion of senior secured notes due 2030 with a term loan, targeting about $45 million in annual interest savings.
Timeline
March: Carvana formed a death cross, with its 50-day simple moving average falling below its 200-day average.
Monday: Shares rose after third-quarter results and analyst commentary.
Roadmap
Carvana's record unit sales reflect its continued push to make buying a used car entirely online a mainstream option. The results extend a growth trajectory that has positioned the company against traditional dealership networks.
Shoppers considering used vehicles may see more online purchasing options as Carvana expands its record unit volume. Lower interest costs from the refinancing could support the company's financing offerings to buyers.
The takeaway
Growth in online used-car sales suggests more buyers are comfortable completing vehicle purchases without visiting a dealership. Readers comparing financing options should review interest terms carefully before committing.
Further reading
For more on how online used-car purchasing works, see Buying/Selling.
Source note: This article includes information reported by Benzinga.
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