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I wasn't keen on writing about used car stocks to buy. But then I read an article from early June in the Wall Street Journal that was an interesting take on used car sales.
Finding a good stock to buy as the market hits new all-time highs can be a challenge. But not every company has participated in the current stock market rally.
The majority of consumers now seek out both digital and physical channels in their car buying journey, according to CarMax, and this omnichannel adoption continues to grow.
CarMax, Inc.'s Q1 2025 revenues fall year-over-year, but beat consensus estimates. CarMax's Q1 2025 earnings show a decline in comparable sales and margins, but surpass consensus expectations. CarMax's repurchase program accelerates with $104 million spent in Q1, targeting five new stores for Fiscal 2025.
U.S. stocks traded mixed midway through trading, with the Dow Jones index edging higher on Friday.
What's going on in the used car market? Garrett Nelson discusses CarMax (KMX) versus Carvana (CVNA) in the used car space.
CarMax, Inc. (NYSE:KMX ) Q1 2025 Earnings Conference Call June 21, 2024 9:00 AM ET Company Participants David Lowenstein - VP, IR Bill Nash - President and CEO Enrique Mayor-Mora - EVP and CFO Jon Daniels - SVP, CarMax Auto Finance Operations Conference Call Participants John Healy - Northcoast Research Seth Basham - Wedbush Securities David Bellinger - Mizuho Brian Nagel - Oppenheimer Sharon Zackfia - William Blair Rajat Gupta - JP Morgan Craig Kennison - Baird Chris Bottiglieri - BNP Paribas Scot Ciccarelli - Truist Securities Chris Pierce - Needham Operator Ladies and gentlemen, thank you for standing by. Welcome to the Q1 Quarter Fiscal Year 2025, CarMax Earnings Release Conference Call.
While the top- and bottom-line numbers for CarMax (KMX) give a sense of how the business performed in the quarter ended May 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
CarMax NYSE: KMX is set up for a market melt-up because of improving market sentiment. The used car market is still struggling due to market normalization, but it is sufficient to drive solid cash flow for this business, and the trends are improving.
CarMax (KMX) reports lower-than-expected fiscal first-quarter results, wherein the top line falls 7.5% year over year.