CarMax’s stock was falling sharply on Thursday after the used-car dealer reported quarterly profits a bit more than half of what analysts expected. Continuing challenges in the macro environment are affecting sales.
CarMax (ticker: KMX) reported earnings per share of 79 cents for the quarter ended August. Analysts tracked by FactSet were looking for earnings of $1.39 a share. Revenue of $8.1 billion in the second fiscal quarter was also below expectations of $8.5 billion. A year earlier, in the second quarter of fiscal 2022, CarMax earned $1.72 a share from $8 billion in sales.
Source: finance.yahoo.com
Related posts:
Bitcoin Wavers Around $63K, Awaiting Hong Kong Spot Crypto ETF Debut
This Recession Indicator Has a Perfect Track Record Over the Past 72 Years: Here's What It Says Happ...
Rich young Americans have lost confidence in the stock market — and are betting on these 3 assets in...
Intel earnings: Chip giant misses Wall Street expectations, Q1 guidance disappoints
Investors Brace for Risk Inflation Dooms Bonds to Bear Market