CarMax Drives Up Higher after Q4 Earnings Beat
Market News

CarMax Drives Up Higher after Q4 Earnings Beat

Shares of CarMax (NYSE: KMX) gained in pre-market trading on Tuesday after the used car retailer reported a big surprise on the bottom line as earnings for the fourth quarter came in at $0.44 per share, down from $0.98 in the same period a year back but surpassing analysts’ consensus estimate of $0.2 per share.

However, KMX’s sales declined by 25.6% year-over-year in Q4 to $5.7 billion and fell short of analysts’ estimates of $6.1 billion.

In FY24, the company is “planning new store growth of five locations, including two more stores in the New York City metro market, as well as our first offsite production location in the Atlanta metro market.” It has projected capex of $450 million in FY24. CarMax also reaffirmed its long-term target of aiming to sell between 2 million and 2.4 million vehicles and generating revenues in the range of $33 billion to $45 billion by FY26 and “growing our nationwide share of the age 0-10 used vehicle market to more than 5% by the end of calendar 2025.”

Overall, Wall Street analysts remain sidelined about KMX stock with a Hold consensus rating based on three Buys, three Holds, and two Sells.

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
RUT
Russell 2000
TNX
10-Yr-Bond
Bitcoin

Popular Articles