Carvana stock heads into Q4 after record sales and profit

Carvana reported record third-quarter results on October 28, 2026, as retail vehicle sales and revenue reached new highs. The company said in its Q3 2026 earnings release that the quarter ended September 30 with strong volume growth and record profitability.

Record scale lifts quarterly results

Carvana sold 217,385 retail units in the quarter, an increase of 39 percent from the year-earlier period and the first time the company exceeded 200,000 units in a quarter. Revenue rose 42 percent to 8.040 billion US dollars, giving the online used-car retailer its strongest quarterly sales performance to date.

Net income reached 483 million US dollars, while GAAP operating income was 714 million US dollars. Adjusted EBITDA, the company's non-GAAP profitability measure, climbed to a record 800 million US dollars. Carvana reported an adjusted EBITDA margin of 10.0 percent and a GAAP operating margin of 8.9 percent.

Fourth-quarter execution comes next

Management expects retail units sold to increase sequentially in the fourth quarter, assuming market conditions remain stable. It also expects full-year 2026 adjusted EBITDA to land toward the upper end of its previously communicated range of 2.7 billion to 3.0 billion US dollars.

The outlook keeps volume expansion at the center of the investment case. Carvana's latest results show that its platform can absorb substantially higher sales while remaining profitable, but the next quarter will test whether that growth can continue without weakening operating performance.

Carvana stock traded at 64.50 euros on Lang & Schwarz at 12:43 CET on Friday, November 13, 2026.

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