KMX Stock Recent News

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.

CarMax Inc (NYSE:KMX) picked up in early trades even though profits fell in its latest quarter as investors decided the numbers weren't as bad as feared. Net earnings for the three months to end May 2024 dropped to $152.44 million, or $0.97 per share compared to $228.30 million, or $1.44 per share, over the same period a year ago.

CarMax (KMX) came out with quarterly earnings of $0.97 per share, missing the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.16 per share a year ago.

Retail used unit sales fall 3.1% from the prior year.

CarMax Inc.'s stock KMX, -0.20% was up 2% in premarket trading on Friday after the used-car seller's first-quarter profit was stronger-than-expected, while its sales missed estimates. CarMax's net income for the three months ended May 31 dropped by about a third to $152.4 million, or 97 cents a share, from $228.3 million, or $1.44 a share in the year-ago period, which included a legal-settlement payment of 28 cents a share.

CarMax reported an about 33% dip in its first-quarter profit on Friday, as lower margins from vehicles sold continued to impact the used-vehicle industry.

CarMax, Inc. KMX will release earnings results for its first quarter, before the opening bell on Friday.