Carvana Shares Surge as Q1 Results Hit Record Highs

Shares of Carvana climbed as much as 10% in extended trading after the company posted record-breaking first-quarter results that exceeded Wall Street expectations. The online automotive retailer demonstrated strong operational momentum, reporting retail sales of 187,393 units, a 40% increase compared to the same period last year. Financial growth was equally robust, with revenue reaching $6.43 billion, marking a 52% year-over-year increase. The company's profitability metrics also showed significant improvement, posting adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $672 million. Net income for the quarter rose to $405 million, up from $373 million a year earlier. Looking ahead, Carvana indicated that it expects a sequential increase in both adjusted EBITDA and retail units sold during the second quarter. If achieved, these metrics would represent all-time records for the company. While the firm does not provide formal annual guidance, the optimistic outlook has bolstered investor confidence. Carvana currently holds a market capitalization of approximately $87 billion. While the stock has faced a 6% decline so far in 2026, it remains significantly higher over a longer horizon, gaining roughly 63% over the past year.