Vehicle sales rose 38% to more than 197,000, while gross profit per unit declined and full-year EBITDA guidance midpoint trailed analyst estimates. CEO Ernest Garcia III said execution remains the key focus as Carvana targets $2.7 billion to $3 billion in adjusted EBITDA this year. The online auto retailer said July 29 that it made a record $769 million in adjusted earnings before interest, taxes, depreciation and amortization in the second quarter. In his letter, Garcia said the company expects adjusted EBITDA of $2.7 billion to $3 billion for the full year. The Tempe, Ariz., company made $349 million in profit selling loans, accounting for about 68% of net income.