Carvana Co. reported strong financial results for the first quarter of 2025, surpassing Wall Street expectations. The company's revenue reached $4.23 billion, exceeding the estimated $3.98 billion and marking a 38% year-over-year increase. Carvana sold 133,898 retail units, a 46% rise compared to the previous year. The adjusted EBITDA was $488 million with a margin of 11.5%, also beating estimates. The company posted a record net income of $373 million, with a net income margin of 8.8%, and a GAAP operating income of $394 million, representing a 9.3% operating margin. Earnings per share (EPS) stood at $1.51, significantly above the estimated $0.65. Separately, Sunrun Inc. exceeded volume and cash generation targets in Q1 2025, generating $56 million in cash and marking its fourth consecutive quarter of positive cash flow. Sunrun ended the quarter with $605 million in unrestricted cash, an increase of $30 million from the previous period.