Carvana Co (NYSE:CVNA) reported financial results for the second quarter after the market close on Wednesday. Here’s a look at the highlights from the report.
Q2 Earnings: Carvana reported second-quarter revenue of $4.84 billion, beating analyst estimates of $4.53 billion. The used car retailer reported second-quarter earnings of $1.28 per share, beating analyst estimates of 97 cents per share, according to Benzinga Pro.
Total revenue increased 42% year-over-year after Carvana sold 143,280 vehicles in the second quarter. Vehicle sales were up 41% on a year-over-year basis.
“Carvana’s industry-leading growth is the result of delivering an experience that customers love, and our industry-leading profitability is driven by our unique, efficient and vertically integrated business model,” said Ernie Garcia, co-founder and CEO of Carvana.
“As we tackle the enormous opportunity ahead, we continue to unlock the scale benefits of our model, driving profitable growth and even better customer experiences.”
Outlook: Carvana expects a sequential increase in retail units sold in the third quarter, “as long as the environment remains stable.” The company guided for adjusted EBITDA of $2 billion to $2.2 billion for full-year 2025.
Carvana executives will further discuss the quarter on an earnings call with investors and analysts at 5:30 p.m. ET.
CVNA Price Action: Carvana shares were up 16.01% in after-hours, trading at $387 at the time of publication on Wednesday, according to Benzinga Pro.
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Photo: Courtesy of Carvana.
