Carvana Shares Plummet 15% as 2026 Earnings Outlook Disappoints

WHO:

Bloomberg - Carvana (CVNA), Chipotle (CMG), Starbucks (SBUX), Crocs (CROX)

CNBC - Carvana, Deutsche Bank, Morgan Stanley, LSEG

WHAT:

CNBC - Carvana's guidance for the year includes forecasts of $3 billion to $3.2 billion from Deutsche Bank and $4.45 billion from Morgan Stanley, which were higher than Carvana's own guidance.

CNBC - Carvana's adjusted earnings before interest, taxes, depreciation, and amortization during the second quarter was a record $769 million, slightly topping LSEG estimates.

CNBC - Carvana's expected adjusted earnings for the second half of the year would easily top the company's record $2.2 billion in adjusted earnings from 2025.

Bloomberg - Carvana's stock fell by 15% after the company provided an annual adjusted EBITDA forecast below analyst estimates.

CNBC - Carvana's stock fell by more than 20% shortly after reporting its second-quarter results and guiding for earnings between $2.7 billion and $3 billion for the year.

CNBC - Carvana's second-quarter earnings per share were 42 cents, exceeding the expected 41 cents.

CNBC - Carvana's second-quarter revenue was $7.38 billion, surpassing the expected $6.91 billion.

CNBC - Carvana's total gross profit per unit was down by roughly 6% compared to some analyst expectations.

CNBC - Carvana expects adjusted earnings between $1.3 billion and $1.6 billion in the second half of the year.

CNBC - Carvana reported $1.4 billion in adjusted earnings before interest, taxes, depreciation, and amortization during the first half of the year.

CNBC - Carvana's net income for the second quarter was $513 million, a $205 million increase from the previous year.

CNBC - Vehicle sales for Carvana increased by 38% to 197,325 units from April through June.

WHERE:

CNBC - Carvana operates as an online car retailer.

WHEN:

CNBC - Carvana's earnings call with analysts was scheduled for 5:30 p.m. ET.

WHY:

CNBC - The decline in Carvana's stock was attributed to the company's earnings guidance missing Wall Street's expectations.

HOW:

CNBC - Carvana's guidance for the year was based on expected earnings between $2.7 billion and $3 billion, which was lower than analyst forecasts from Deutsche Bank and Morgan Stanley.

(UPDATED July 30, 2026 22:26 UTC)

Carvana has raised its guidance for the year, with forecasts from Deutsche Bank predicting between $3 billion and $3.2 billion, while Morgan Stanley estimates $4.45 billion, both exceeding Carvana's own projections. In the second quarter, the company reported a record adjusted earnings before interest, taxes, depreciation, and amortization of $769 million, slightly surpassing estimates from LSEG. Looking ahead, Carvana anticipates that its adjusted earnings for the second half of the year will significantly exceed its previous record of $2.2 billion from 2025.

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(UPDATED July 30, 2026 15:40 UTC)

Carvana's stock took a significant hit, falling over 20% after the company reported its second-quarter results and provided an annual earnings forecast that fell short of analyst expectations. Despite posting a net income of $513 million for the quarter, which is a $205 million increase from the previous year, Carvana's guidance for the year, estimating earnings between $2.7 billion and $3 billion, disappointed investors. The company, which operates as an online car retailer, is set to discuss these results further during its earnings call with analysts at 5:30 p.m. ET.