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14 analysts' median target is $82[FMP target], stock is $74, +10.5% vs the analyst consensus median. After Q1 +8.6% EPS beat[FMP earnings], the stock moved -7.4%.
B- = MoonshotScore 57[multi-pillar formula] + Council 3/6[6-lens rule]. Form 4: 0 transactions[FMP Form 4].
Quick AnswerCarvana Co. (CVNA) Q1 consensus: revenue $7.6B[FMP est], EPS $0.48[FMP est]. 3 consecutive quarters of beat[FMP earnings].
Q1 EPS +8.6% beat[FMP] but the stock -7.4% D+1[FMP D+1].
Watchlist
Q2 Guidance And Fy26 Outlook
q2_guidance_and_fy26_outlook
Carvana anticipates a sequential increase in both retail units sold and adjusted EBITDA for Q2, aiming for new company records and significant growth in both metrics for the full year 2026.
"Looking toward Q2 and assuming the environment remains stable, we expect a sequential increase in both retail units sold and adjusted EBITDA, leading to all-time company records on both metrics. We remain on track to deliver significant growth in both retail units sold and adjusted EBITDA in full year 2026."
- Mark Jenkins, CFO - Q1 FY26 Earnings Call - April 29, 2026
Q1 Record Performance
q1_record_performance
Carvana achieved a record first quarter with 187,000 cars sold, $581 million in GAAP operating income, and $672 million in adjusted EBITDA, marking its ninth consecutive quarter of industry-leading growth and profitability.
"The first quarter was another outstanding quarter for Carvana. It was another quarter full of records, including a record 187,000 cars sold in a single quarter, a record GAAP operating income of $581 million and record adjusted EBITDA of $672 million, and it was our ninth straight quarter of being the most profitable and fastest-growing automotive retailer as well as our sixth straight quarter of 40% year-over-year growth."
- Ernest Garcia, CEO - Q1 FY26 Earnings Call - April 29, 2026
Sg A Leverage Opportunity
sg_a_leverage_opportunity
Carvana continues to see significant SG&A expense leverage opportunities, reducing non-GAAP SG&A expense per retail unit sold by $170 with 40% growth in retail units, driven by operational and fixed cost structure improvements.
"Our 40% growth in retail units sold led to a $170 reduction in non-GAAP SG&A expense per retail unit sold, including a $36 reduction in operations expenses and a $226 reduction in overhead expenses. We continue to see opportunities for significant SG&A expense leverage over time and as we scale, driven by both continued improvements in operational expenses as well as leverage in the fixed components of our cost structure."
- Mark Jenkins, CFO - Q1 FY26 Earnings Call - April 29, 2026
Long Term Goals
long_term_goals
Carvana remains firmly on track to achieve its mission of selling 3 million cars per year and reaching a 13.5% adjusted EBITDA margin by 2030 to 2035.
"We remain firmly on the path of achieving our mission of changing the way people buy and sell cars and is selling 3 million cars per year to 13.5% adjusted EBITDA margin by 2030 to 2035."
- Ernest Garcia, CEO - Q1 FY26 Earnings Call - April 29, 2026
Stock Expert AI - Methodology
multi-pillar methodology. Revenue Growth and Cash Runway strong. Gross Margin weak.
How is it calculated? ->6 investor frameworks. 3 bullish (Ray Dalio, Ken Griffin, Buffett), 0 bearish (none), 3 neutral (Jim Simons, Klarman, Munger).
How is it calculated? ->Quality business, trading at fair value.
How is it calculated? ->Past Performance
Q1 (April 29, 2026): EPS $0.42 vs $0.39 est[FMP], +8.6% beat. D+1 movement: -7.4%[FMP D+1]. Decline despite beat - market reacted to guidance, not numbers.
Q1: EPS $0.42 vs $0.39 beat[FMP], stock -7.4% D+1[FMP].
No RPO/backlog concentration disclosed in Q1 earnings call.
Q1 CapEx $51.0M[FMP cashflow]. Q1 op margin 9.2%[FMP op margin] - this level in Q1 is sensitive to CapEx revision risk.
Not advice - a structural framework for earnings night. Decision discipline is yours.
Market Outlook
You read it in 5 minutes. When the numbers come out on Wednesday evening - you know what you're looking at.
Data arrives at night. The framework is ready now.
Data arrives on Wednesday evening. The framework is ready on this page: Q1 EPS threshold $0.48[FMP], CapEx threshold "below $51.0M". Two anchors, three scenarios.
Comparison Stock Expert AI is free today — no credit card.
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Prices as of April 2026. Sources: seekingalpha.com/subscriptions - tipranks.com/pricing - trendspider.com/pricing
Stock Expert AI is free today — no credit card. Council 7-lens analysis + MoonshotScore multi-pillar + Insider tracker + Technical levels - all in one platform, for every stock.
Educational tool, not investment advice. Past performance does not guarantee future results.
Calendar
DATA GAP: Events not in the FMP /stable/calendar feed - Investor day, analyst day, product launches, regulatory dates. These require company IR page scraping or manual calendar entry.
This Carvana Co. (CVNA) earnings preview covers the analyst consensus, key catalysts, and what to watch on the earnings call.
Carvana Co. (CVNA): Consensus EPS, revenue guidance, segment growth rates, and the tone of management commentary — the full breakdown with sources is on this page.
Carvana Co. (CVNA): Figures are sourced from Financial Modeling Prep (FMP) fundamentals and consensus data plus official earnings-call transcripts; derived metrics are labeled with their source next to each figure.
Carvana Co. (CVNA): No. This page is educational research, not investment advice. It summarizes analyst consensus and company data; consult a licensed financial advisor before making any investment decision.