CarMax (NYSE: KMX) Plunges After Disappointing Q2 Results
September 29 2022 - 07:41AM
TipRanks
CarMax (NYSE: KMX) stock plunged in pre-market trading on Thursday
after the used automobile retailer reported disappointing Q2
results. The company's revenues went up by 2% year-over-year to
$8.1 billion but fell short of analysts' estimates by $410 million.
Earnings came in at $0.79 per diluted share versus $1.72 in the
same period a year back. Wall Street analysts had forecasted
earnings of $1.39 per share. Bill Nash, President, and CEO of
CarMax commented, "While this was a challenging quarter across the
used car industry, our ongoing progress in strengthening and
expanding our omnichannel experience continues to positively
differentiate us and enable us to grow market share.
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CarMax (NYSE:KMX)
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