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Carmax announced lower-than-expected revenue and earnings in its latest quarter. High interest rates have put pressure on consumers, causing them to delay vehicle purchases.
CarMax is deploying tech solutions to boost efficiency as it continues to deal with a tough environment for buying and selling used cars.
CarMax missed analyst estimates on the top and bottom lines. The company is delaying its goal of selling 2 million cars annually.
CarMax (KMX) shares plunged Thursday after the biggest U.S. used-car retailer posted weaker-than-expected quarterly results amid slowing demand.
CarMax, Inc. NYSE: KMX shares are down a solid 10% following a weak Q4 earrings report and a revision in the long-term guidance. The company didn't lower its sales targets.
Used cars are getting harder to obtain just as new cars get more affordable.
CarMax (KMX) lags fiscal fourth-quarter earnings estimates on lower-than-expected sales across all segments.
The shares of CarMax Inc (NYSE:KMX) are plummeting today, after the used car retailer's disappointing fourth-quarter results.
While the top- and bottom-line numbers for CarMax (KMX) give a sense of how the business performed in the quarter ended February 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
CarMax Inc (NYSE:KMX) fell almost 9% in pre-market trading as the vehicle retailer missed fourth-quarter expectations and cautioned on the current trading environment. Revenue fell 1.7% to US$5.6 billion over the final quarter, CarMax reported, below Wall Street expectations of US$5.8 billion.