New York, Feb 22, 2026, 12:47 ET — Market closed.
- Carvana shares last traded at $336.62 on Friday, up 1.2%, after a volatile week.
- Investors are still weighing a fresh warning on vehicle reconditioning and depreciation costs.
- Next week’s U.S. inflation data, including producer prices on Feb. 27, could sway rate bets and auto lenders.
Carvana Co shares were last up 1.2% at $336.62 on Friday, after swinging between $318.18 and $344.90 during the session. The U.S. stock market is shut on Sunday and reopens on Monday.
The next session starts with cost worries still hanging over the online used-car retailer’s results. Carvana missed Wall Street estimates for fourth-quarter profit on higher expenses, and CFO Mark Jenkins told analysts he expects the same pressure to show up in the first quarter: “We do expect those cost dynamics to play out in Q1.” (Reuters)
The stock fell about 8% on Thursday as traders digested higher reconditioning costs and depreciation, and at least four brokerages including J.P. Morgan and RBC cut price targets after the report. Carvana also pushed back on fresh claims from short seller Gotham City Research, while Stephens analyst Jeff Lick said premium-valued names can react hard to even a modest miss. (Reuters)
A filing showed Carvana reported the results in a shareholder letter and press release attached to a Form 8-K dated Feb. 18. (SEC)
In its release, Carvana said 2025 retail units sold rose 43% to 596,641 and revenue climbed 49% to $20.3 billion. It reported net income of $1.9 billion and said it expects “significant growth” in retail units sold and adjusted EBITDA in 2026, assuming a stable environment. (Carvana)
Reconditioning costs are the checks, fixes and detailing needed to get a car ready for resale. When those bills rise, or when retail depreciation runs hotter than expected, the profit per vehicle can slip even if sales volumes are rising.
Rates matter here, too. A Reuters report on Friday said underlying U.S. inflation increased more than expected in December, reinforcing expectations the Federal Reserve may not cut rates before June; it also flagged producer prices as the next key release. For auto retailers, stickier inflation can mean tighter financing conditions for buyers and higher scrutiny of loan performance. (Reuters)
There’s a clear downside case if costs stay stubborn into March and used-vehicle pricing weakens at the same time. Add legal or regulatory noise around the short-seller claims and the stock can stay jumpy, even after Friday’s bounce.
Traders coming back on Monday will be watching whether the post-earnings selling has run its course or whether fresh analyst notes keep pressing on valuation and cost discipline.
The next hard catalyst on the calendar is the U.S. Producer Price Index for January, due Feb. 27 at 8:30 a.m. ET. Investors will be looking for any sign that pipeline inflation is cooling — and, for Carvana, whether the next quarter brings relief on reconditioning and depreciation rather than another surprise. (Bls)
