Carvana Q2 FY26 net income rises 66.6% to $513 million; revenue climbs 52% to $7.38 billion

Carvana posted Q2 net income of $513 million, up $205 million year over year, as revenue climbed 52% to $7.38 billion.

Retail units sold rose 38% from a year earlier to a record 197,325, supporting a GAAP operating income of $680 million, up $169 million.

Carvana forecast sequential growth in retail units sold in Q3, projecting full-year 2026 adjusted EBITDA (non-GAAP) of $2.7 billion to $3.0 billion.

Adjusted EBITDA (non-GAAP) increased $168 million year over year to $769 million, with an adjusted EBITDA margin of 10.4%.

CEO Ernie Garcia said the company is running at nearly 800,000 retail units and more than $2 billion net income, about 1.5% of the U.S. auto market.