Dear Carvana Stock Fans, Mark Your Calendars for February 18

For investors keeping a close eye on Carvana (CVNA), Feb. 18 has emerged as one of the most important dates on the 2026 market calendar. After a rollercoaster ride marked by volatile trading in 2025, Carvana is scheduled to release its fourth-quarter and full-year 2025 financial results after the market closes on Feb. 18.

This earnings announcement has the potential to redefine the narrative for the online used-car retailer. Following its dramatic turnaround from near bankruptcy, a recent addition to the S&P 500 Index ($SPX) and heightened scrutiny, made investors intensely focused on whether the company can continue to deliver both top-line growth and financial transparency.

Thus, the upcoming report could be a catalyst for a renewed rally or a sharp correction, depending on how Carvana’s results measure up against consensus and how management addresses lingering concerns.

Carvana is a prominent e-commerce platform focused on the online buying, selling, financing, and home delivery of used vehicles. Based in Tempe, Arizona, the company has built one of the nation’s most vertically integrated automotive retail models.

Since its initial public offering (IPO) in 2017, Carvana has undergone a dramatic turnaround, surviving near-bankruptcy to emerge with strong profitability margins, streamlined operations, and rapid sales growth. Today, the company commands a market capitalization of $74.8 billion, firmly establishing it as a large-cap stock.

Carvana has delivered a dramatic resurgence in its share price in 2025 as investor confidence returned and fundamentals improved.

The company’s growth in retail unit sales and revenue signals a dramatic turnaround from previous years of volatility and losses. These operational improvements, coupled with Carvana’s inclusion in the S&P 500 in December 2025, mechanically increased demand for the stock as index funds and ETFs adjusted their holdings and also elevated the company’s visibility. The stock hit a 52-week high of $486.89 on Jan. 23, amid the positive sentiments.

However, the stock has since retreated by 29.3%, while its total 52-week returns stand at about 27%.

Carvana’s stock has come under pressure this month amid renewed investor anxiety ahead of its upcoming earnings report. A high-profile report from Gotham City Research alleging accounting irregularities and undisclosed related-party transactions reignited doubts about the sustainability of Carvana’s turnaround, triggering heavy selling and a significant drop in share price. The stock has declined nearly 14% over the past five days, while it is down 18% on a year-to-date (YTD) basis.