We recently published 10 Stocks Crushing With Whopping Double-Digit Gains. Carvana Co. 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., 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. 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. 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.”
