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CarMax Lags Q1 Earnings and Revenue Estimates

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CarMax (NYSE: KMX) came out with quarterly earnings of $0.97 per share, missing the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -2.02%. A quarter ago, it was expected that this used car dealership chain would post earnings of $0.45 per share when it actually produced earnings of $0.32, delivering a surprise of -28.89%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

CarMax, which belongs to the Zacks Automotive – Retail and Wholesale – Parts industry, posted revenues of $7.11 billion for the quarter ended May 2024, missing the Zacks Consensus Estimate by 1.14%. This compares to year-ago revenues of $7.69 billion. The company has topped consensus revenue estimates just once over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on …

Full story available on Benzinga.com

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