Carvana Touches New High on Q2 Earnings Boosted by Auto Tariffs
We recently published 10 Stocks Crushing With Whopping Double-Digit Gains. Carvana Co. (NYSE:CVNA) is one of the best-performing stocks on Thursday.
Carvana soared to a new 52-week high on Thursday as investors cheered its strong earnings performance in the second quarter that largely benefited from President Donald Trump’s tariffs on automobiles during the period.
Carvana Co. (NYSE:CVNA), a retailer of used cars, soared to its highest price of $413.22 before early profit-taking pulled its share price lower to end the day just up by 16.96 percent at $390.17 apiece.
Photo by Marvin Meyer on Unsplash
In its updated report, Carvana Co. (NYSE:CVNA) said net income in the second quarter climbed by 542 percent to $308 million from $48 million in the same period last year as US tariffs on new car imports shifted consumer demand to used vehicles.
Total revenues also increased by 42 percent to $4.84 billion from $3.41 billion, having sold 143,280 units, or a 41 percent increase from the same period last year.
While results for the second quarter were promising, Carvana Co. (NYSE:CVNA) posted a more conservative outlook for the rest of the year
For the periods between July and September, the company will continue to expect a sequential increase in retail units sold, with adjusted EBITDA of $2 to 2.2 billion for full-year 2025, versus $1.38 billion last year, “as long as the environment remains stable.”
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