Carvana Q1 2026 revenue rises 52% to $6.432 billion; retail units up 40%
Carvana reported first-quarter 2026 results for the quarter ended March 31, 2026, with revenue, gross profit, operating income and net income all higher than a year earlier. Gross profit per unit fell, and Adjusted EBITDA margin declined, but the company expects sequential growth in retail units sold and Adjusted EBITDA in the second quarter.
Key points
- Net sales and operating revenues were $6.432 billion, up 52% from $4.232 billion; retail units sold were 187,393, up 40%
- Net income attributable to Carvana Co. was $250 million versus $216 million; basic and diluted EPS of Class A shares were $1.75 and $1.69 versus $1.61 and $1.51
- Total gross profit per unit was $6,783, down $155; Adjusted EBITDA was $672 million with a 10.4% margin, down from 11.5%
- For Q2 2026, the company expects a sequential increase in retail units sold and Adjusted EBITDA, assuming the environment remains stable
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 29, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.