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Carvana CVNA Q1 2026 earnings

Reported April 29, 2026 · After market close

Revenue$6.4BBeat by $309.5MDiluted EPS$1.69Beat by $0.11
Revenue estimate$6.1B
EPS estimate$1.58

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$6.9B
EPS estimate$0.42

Financials

Q1 2026

Income statement

See full
Revenue$6.4B+52.0%
Gross profit$1.3B+36.8%
Operating income$581.0M+47.5%
Net income$250.0M+15.7%

Balance sheet

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Cash & equivalents$2.5B+31.9%
Total debt$5.7B-8.4%
Total equity$3.7B+147%
Total assets$13.8B+55.1%

Cash flow

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Operating cash flow$107.0M-53.9%
CapEx$51.0M+88.9%
Free cash flow$56.0M-72.7%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$47.53B+60.0%
Enterprise value$50.71B+48.6%
P/E33×-41.6×
P/S2.1×+0.1×

Profitability

See full
Gross margin20.1%-1.5pp
Operating margin9.2%+0.8pp
Net margin6.4%+3.7pp
FCF margin3.3%-3.1pp

Returns & leverage

See full
Return on equity55.2%+10.8pp
Debt / equity1.5×-2.6×
Current ratio4.1×+0.3×

Segments

By product

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Used vehicle sales, net$4.8B+62.0%
Wholesale sales and revenues$1.1B+24.9%

By segment

See full
Reportable Segment$6.4B+52.0%

Versus estimates

Revenue

Q1 2026$6.4BBeat by $309.5M
Q4 2025$5.6BBeat by $333.0MQ3 2025$5.6BBeat by $536.5MQ2 2025$4.8BBeat by $263.0MQ1 2025$4.2BBeat by $233.1MQ4 2024$3.5BBeat by $231.7M

Diluted EPS

Q1 2026$1.69Beat by $0.11
Q4 2025$4.22Beat by $3.08Q3 2025$1.03Miss by $0.27Q2 2025$1.28Beat by $0.11Q1 2025$1.51Beat by $0.78Q4 2024$0.56Beat by $0.27

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Questions, answered.

When did Carvana report Q1 2026 earnings?
Carvana (CVNA) reported Q1 2026 earnings on April 29, 2026 after market close.
What were Carvana's Q1 2026 revenue and EPS?
Carvana reported revenue of $6.4B and diluted EPS of $1.69 for Q1 2026.
Did Carvana beat estimates in Q1 2026?
Revenue beat the consensus estimate of $6.1B by $309.5M. EPS beat the consensus estimate of $1.58 by $0.11.
How did Carvana's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 52.0% from $4.2B a year earlier and diluted EPS grew 11.9% from $1.51.
Where can I find Carvana's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001690820-26-000034) and the 10-Q periodic report (0001690820-26-000035) directly on SEC EDGAR. The filing index links above go to sec.gov.