CarMax Stock Sell-Off Is a Buying Opportunity, Says Oppenheimer
September 30 2022 - 03:35PM
TipRanks
There’s no two ways about it, there wasn’t much to like about
CarMax’s (KMX) latest quarterly results. Investors voiced their
displeasure, sending shares down by 25% in the subsequent session
as the company failed to meet expectations on both the top-and
bottom-line in fiscal 2023’s second quarter. The auto retailer
delivered revenue of $8.14 billion, amounting to a 1.9%
year-over-year increase yet missing the consensus estimate by $410
million. EPS clocked in at $0.79, declining from $1.72 in the same
period a year ago and some distance below Street expectations of
$1.39. Used car unit comps declined by 8.
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CarMax (NYSE:KMX)
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