CarMax (KMX) Stock Price is Down After Reporting Q2 Results, Here's Why

Shares of CarMax (KMX) are down over 7.5% in pre-open Thursday after the car retailer reported worse-than-expected profit results for its second quarter.

CarMax stock price fell after the company said it recorded a Q2 EPS of $1.72, lower than the Street estimate of $1.90. Revenue for the quarter came in at $8 billion versus the consensus estimate of $6.9 billion.

“Our omni-channel platform, in combination with our unique customer offerings, industry expertise and solid execution, drove performance across our diversified business and led to a record level of used sales for the second quarter and an all-time record for wholesale vehicle sales” said Bill Nash, president and chief executive officer.

As of yesterday, the CarMax stock price was up 57% YTD.

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