Carvana Co. (NYSE: CVNA) reported Q4 EPS of $4.22, $3.11 better than the analyst estimate of $1.11. Revenue for the quarter came in at $5.6 billion versus the consensus estimate of $5.24 billion.

• Carvana 4Q Adj. Ebitda $511M, Est. $535.7M

Outlook

• In 2025, we focused on three key objectives: (i) significant growth in retail units and Adjusted EBITDA, (ii) fundamental gains in unit economics and customer experience, and (iii) developing foundational capabilities.
• We made significant progress in all three areas in 2025, highlighted by record units, industry-leading margins, multi-year high customer NPS, and expanded integrated reconditioning and digital auction capabilities.
• In 2026, we plan to maintain these priorities while placing additional weight on driving significant, profitable growth at scale.
• Looking forward, we expect significant growth in both retail units sold and Adjusted EBITDA3 in full year 2026, including a sequential increase in both retail units sold and Adjusted EBITDA3 in Q1 2026, assuming the environment remains stable.
  

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