The used vehicle retailer underwhelmed with its latest quarterly update.Shares of CarMax (KMX -0.42%) are down 11.7% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence, after the used vehicle retailer announced disappointing quarterly results and delayed a key long-term vehicle sales target.On CarMax's underwhelming quarterFor CarMax's fiscal fourth quarter ended Feb. 29, revenue declined 1.7% year over year to $5.63 billion. On the bottom line, that translated to ...

CarMax is deploying tech solutions to boost efficiency as it continues to deal with a tough environment for buying and selling used cars.“Fiscal 2024 was a challenging year across the used car industry as vehicle affordability and widespread macro factors continue to pressure sales,” CarMax President and CEO Bill Nash said Thursday (April 11) during the company’s quarterly earnings call.During the quarter ended Feb. 29, the company’s combined retail and wholesale used vehicle unit sales declined 0.9% year o ...

Shares of the used car dealer fell after a disappointing earnings report and a delay in hitting a sales target.Shares of CarMax (KMX -9.12%) were pulling back today after the country's largest retailer of used cars, both online and in-store, posted disappointing results in its fourth-quarter earnings report.As of 3:30 p.m. ET, the stock was down 9.5%. CarMax hits a bumpy roadIt's been a tough market for used car dealers as high interest rates have significantly raised monthly payments for buyers, and prices ...

Key TakeawaysCarMax missed quarterly profit and sales estimates amid slowing demand caused by what it called "vehicle affordability challenges."The used-car retailer sold more retail vehicles, but at lower prices. Wholesale vehicle sales dropped, along with prices.CarMax pushed back its goal to sell at least 2 million vehicles annually. CarMax (KMX) shares plunged Thursday after the biggest U.S. used-car retailer posted weaker-than-expected quarterly results amid slowing demand. The company reported fourth- ...

Key PointsCarMax struggled in Q4 and revised its long-term target, sending shares down into the buying zone. The market is range-bound after falling 50% from its highs and is unlikely to set new lows. The share price may wallow now, but the long-term outlook includes a leveraged recovery due to increased store count and market share gains. 5 stocks we like better than CarMaxCarMax, Inc. NYSE: KMX shares are down a solid 10% following a weak Q4 earrings report and a revision in the long-term guidance. The co ...

CarMax Inc. (KMX) reported fourth-quarter fiscal 2024 (ended Feb 29, 2024) adjusted earnings per share of 32 cents, which missed the Zacks Consensus Estimate of 45 cents. The bottom line also declined from 44 cents per share recorded in the year-ago period. The auto retailer registered revenues of $5.6 billion in the quarter under review, which fell short of the Zacks Consensus Estimate of $5.7 billion. The top line also contracted 1.7% year over year. CarMax, Inc. price-consensus-eps-surprise-chart | CarM ...

The shares of CarMax Inc (NYSE:KMX) are plummeting today, after the used car retailer's disappointing fourth-quarter results. The company also delayed its long-term financial target, expecting to sell over 2 million retail and wholesale units annually between 2026 and 2030, compared to its previous goal of 2026. At last glance, KMX was down 12% at $69.75, and trading at its lowest levels since February. The stock is a far cry from its March 28, 52-week high of $88.22, down 20.4% since the start of April. Ye ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

CarMax Inc down close to 10% after reporting its earnings for the fourth quarter may be an opportunity to buy, says a Wedbush Securities analyst.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.$KMX down as Q4 results miss Street estimates Copy link to section The used vehicle retailer came in shy of Street estimates for its fiscal Q4 on Thursday. $KMX also said that it now expects to take until the end of this decade to start selling over 2 million un ...

CARMAX REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS Richmond, Va., April 11, 2024 – CarMax, Inc. (NYSE:KMX) today reported results for the fourth quarter and fiscal year ended February 29, 2024. Fourth Quarter Highlights: -more- • Net revenues were $5.6 billion, down 1.7% compared with the prior year fourth quarter. • Retail used unit sales increased 1.3% and comparable store used unit sales increased 0.1% from the prior year's fourth quarter; wholesale units declined 4.0% from the prior year's fourt ...