Carvana Co. (CVNA) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

Ernest Garcia
Co-Founder, President, CEO & Chairman

Wow, that’s a big picture opening. Talk for hours and make it look bored. I think the most important takeaway from that, I think we’ve worked for the last — what has it been now? 13 years, 14 years, to build a customer offering, it’s really different. And I think — it’s been a ton of work, and I think there’s been a ton of good days and there’s been several bad days. And those were some of the good days along the way, but there were certainly bad ones that preceded it.

But I think we built something that we think is really, really different that there’s no obvious comp to and that if we keep doing a good job, we’re going to keep having really great results. But I think we also have grown fast, and we’ve got a big operational business, which I think has good things and bad things. And sometimes along the way means there can be a little bumps. But yes, in general, I think we’re in a very similar spots where we’ve always been and we just going to keep going.