CarMax Stock Performance Analyzed: 11.7% Drop Explained
Friday, 12 April 2024, 15:26
On CarMax's Underwhelming Quarter
The used vehicle retailer, CarMax (NYSE: KMX), disappointed investors with a 11.7% drop in stock value this week. The fiscal fourth quarter revenue declined year-over-year to $5.63 billion, with net earnings down by 27.3%.
Details of Financial Performance
Retail used unit sales grew modestly, while wholesale units declined. CarMax Auto Finance reported increased income, but the company delayed its long-term sales target.
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