KMX

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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