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Here's What Key Metrics Tell Us About Carvana (CVNA) Q2 Earnings

By Zacks Equity Research | July 30, 2025, 6:30 PM

For the quarter ended June 2025, Carvana (CVNA) reported revenue of $4.84 billion, up 41.9% over the same period last year. EPS came in at $1.28, compared to $0.14 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $4.58 billion, representing a surprise of +5.62%. The company delivered an EPS surprise of +16.36%, with the consensus EPS estimate being $1.10.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Carvana performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Unit sales - Retail vehicle unit sales: 143,280 versus 141,766 estimated by seven analysts on average.
  • Per retail unit gross profit - Total: $7,426.00 compared to the $7,168.09 average estimate based on six analysts.
  • Per retail unit gross profit - Retail vehicle: $3,636.00 versus $3,426.22 estimated by five analysts on average.
  • Per unit revenue - Retail vehicles: $23,765.00 versus $23,237.88 estimated by four analysts on average.
  • Per unit revenue - Wholesale vehicles: $10,746.00 compared to the $9,871.81 average estimate based on four analysts.
  • Per retail unit gross profit - Other: $2,869.00 versus $2,885.12 estimated by four analysts on average.
  • Unit sales - Wholesale vehicle unit sales: 72,770 compared to the 66,543 average estimate based on four analysts.
  • Markets at end of period (metropolitan statistical areas): 316 versus 316 estimated by three analysts on average.
  • Per retail unit gross profit - Wholesale: $921.00 versus the three-analyst average estimate of $897.86.
  • Sales and operating revenues- Retail vehicle sales, net: $3.41 billion versus the five-analyst average estimate of $3.27 billion. The reported number represents a year-over-year change of +41.2%.
  • Sales and operating revenues- Other sales and revenues: $411 million versus $394.09 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +47.3% change.
  • Sales and operating revenues- Wholesale sales and revenues: $1.02 billion versus $881.48 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +42.2% change.

View all Key Company Metrics for Carvana here>>>

Shares of Carvana have returned -0.5% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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