Carvana Q2 FY2026: revenue up 52.4% to $7.376 billion, EPS beats
Carvana's second quarter was a growth quarter more than a margin quarter: revenue rose 52.4% to $7.376 billion while gross margin slipped to 18.8% from 22.0% a year ago. Net income attributable to Carvana still climbed to $310 million, and diluted EPS of $0.42 squeezed past the $0.4148 consensus. The whole story now hinges on how long Carvana can keep trading per-unit profit for volume.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $0.42 against a $0.4148 consensus, a beat of roughly half a cent — essentially a tie in a quarter this big. Net income attributable to Carvana Co. was $310 million, while total net income including non-controlling interests was $513 million. Watch the share count: diluted EPS uses 740 million Class A shares, and the company says full conversion of LLC units would mean 1.127 billion shares.
Revenue of $7.376 billion was up 52.4% from $4.840 billion a year earlier, and retail units sold rose 37.7% to 197,325. This is real volume growth, not just price: wholesale units rose 44.4%. But gross profit grew only 30.1% to $1.384 billion, so the top line is outrunning the profit it produces.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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