What to Expect From Carvana’s Q3 2026 Earnings Report

With a market cap of $65.1 billion, Carvana Co. (CVNA) is an e-commerce platform for buying and selling used cars, allowing customers to browse vehicles, obtain financing, trade in their existing cars, and complete purchases entirely online. The Tempe, Arizona-based company also offers vehicle delivery or local pickup, along with complementary products such as vehicle service contracts and auto insurance. 

The online used car retailer is expected to announce its fiscal third-quarter earnings for 2026 after the market closes on Wednesday, Oct. 28. Ahead of the event, analysts expect CVNA to report a profit of $0.47 per share on a diluted basis, up 123.8% from $0.21 per share in the year-ago quarter. The company beat or met the consensus estimates in three of the last four quarters while missing the forecast on another occasion.

For the current year, analysts expect CVNA to report EPS of $1.63, down 3.6% from $1.69 in fiscal 2025. However, its EPS is expected to rebound, rising 32.5% year over year to $2.16 in fiscal 2027.

Carvana has struggled to keep pace with the broader market over the past year, with shares falling 10.2% even as the S&P 500 Index ($SPX) gained 14.4%. The stock also underperformed the State Street Consumer Discretionary Select Sector SPDR ETF’s (XLY) 3.1% drop over the same time frame.

Carvana has lagged behind the broader market over the past year amid investor concerns about its growth outlook, profitability sustainability, and exposure to fluctuations in used-car demand and financing conditions. Despite improvements in its business performance, uncertainty surrounding the durability of its recovery has weighed on investor sentiment.

However, Carvana shares jumped 5% on Sept. 29, after Jefferies reiterated its “Buy” rating and $88 price target, citing proprietary data indicating September unit sales were tracking roughly 40% above Wall Street expectations. 

Analysts’ consensus opinion on CVNA stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 22 analysts covering the stock, 13 advise a “Strong Buy” rating, three suggest a “Moderate Buy,” and six give a “Hold.” CVNA’s average analyst price target is $83.67, indicating a potential upside of 42.5% from the current price of $58.72.

On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.