Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
Carvana Stock Falls on Earnings Miss. Morgan Stanley Still Sees Upside
Carvana Stock Falls on Earnings Miss. Morgan Stanley Still Sees Upside
Nauman Khan
Fri, February 20, 2026 at 1:27 AM GMT+9 1 min read
In this article:
CVNA
-8.49%
This article first appeared on GuruFocus.
Carvana (NYSE:CVNA) shares slid about 6% on Thursday after the online used-car retailer missed some fourth-quarter profitability metrics despite sharply higher earnings.
Carvana reported fourth-quarter earnings of $4.22 per share, up sharply from a year earlier, while revenue climbed 59% to $5.65 billion. Analysts had expected earnings of $1.14 per share on $5.27 billion of revenue, according to FactSet.
Adjusted EBITDA came in at $511 million, below estimates of about $536 million. The adjusted margin was 10.1%, slightly under expectations.
Chief executive Ernie Garcia said higher vehicle reconditioning costs weighed on results and are likely to remain elevated in the first quarter, though profit per unit is expected to improve.
Carvana offered limited detail on near-term guidance, saying it expects growth in retail units sold and adjusted EBITDA in fiscal 2026, assuming stable market conditions.
Analysts expect first-quarter adjusted EBITDA of $671 million.
Despite the selloff, Morgan Stanley said the pullback may offer upside, citing execution and unit growth potential.
Carvana is down more than 14% so far this year, lagging the broader S&P 500.
Terms and Privacy Policy
Privacy Dashboard
More Info