New York, Feb 18, 2026, 11:41 EST — Regular session
- CVNA shares were up about 2% in regular U.S. trading.
- Options markets are pricing a double-digit swing after results.
- Investors are braced for management’s update on demand and financial transparency.
Carvana Co. (CVNA) shares rose 1.9% to $357.65 on Wednesday, lifting the online used-car retailer’s stock price ahead of quarterly results due after the closing bell. The stock traded between $339.16 and $366.25.
That report has turned into a near-term volatility event. Options pricing implies Carvana shares could swing about 13.5% in either direction by the end of the week, and the stock is down nearly 15% so far this year. (Investopedia)
The urgency is about trust as much as numbers. Short seller Gotham City Research last month questioned Carvana’s accounting and related-party arrangements linked to DriveTime, a sister company controlled by the Garcia family, and the company has disputed the claims. (Financial Times)
The wider market was firmer, with the S&P 500 tracking ETF SPY up about 0.8%. Used-car names also gained, with CarMax up about 7.4% and ACV Auctions up 3.6%.
Analysts expect Carvana to post fourth-quarter revenue of about $5.23 billion and earnings of $1.12 a share, according to Benzinga Pro. Jay Woods, chief market strategist at Freedom Capital Markets, called it “a major inflection point technically” and said he expects the stock to be “highly volatile” around the report. (Benzinga)
Beyond headline earnings, traders will key in on unit sales and gross profit per vehicle, and whether the company is paying more to source inventory. They will also look at adjusted EBITDA — earnings before interest, taxes, depreciation and amortization — as a rough gauge of operating momentum.
Financing is another pressure point. Carvana depends on consumer credit to sell cars, so any shift in loan availability or delinquencies can show up quickly in demand and margins.
But the setup cuts both ways. A miss on results or cautious guidance — or commentary that does not ease transparency concerns — could push the stock back toward recent lows, fast.
Carvana is scheduled to release fourth-quarter and full-year 2025 results after the U.S. market close on Wednesday and hold a conference call at 5:30 p.m. ET. (Carvana)
