CarMax Reports Second Quarter Fiscal 2023 Results

CarMax (KMX) Second Quarter Story is of 'Demand Destruction' - Morgan Stanley

CarMax's (NYSE: KMX) quarterly results, released premarket on Thursday, demonstrated the current strain on US consumers.

Inflation soaring and interest rates rising have weighed significantly on consumer spending. As a result, CarMax's earnings results missed consensus expectations.

The company stated several macroeconomic factors... More

JPMorgan on CarMax (KMX): 'Expect a Strong Negative Reaction'

JPMorgan analyst Rajat Gupta reiterated a Neutral rating and {REMOVEPT} price target on CarMax (NYSE: KMX)

The analyst comments "Expect a strong negative reaction. $0.79 vs JPM $1.37 vs buy-side around ~$1.25. Broad miss across all key metrics including unit growth, SG&A leverage,... More

Evercore ISI Stays Sidelined on CarMax (KMX) Noting Tough Industry Backdrop

Evercore ISI analyst Michael Montani reiterated an In Line rating and $90.00 price target on CarMax (NYSE: KMX).

The analyst comments "CarMax is winning market share amidst a tough industry backdrop. It is not buying volume. CarMax retail used unit comps of -8.3% YoY (-6.4% units) was less negative than the -12% YoY F1Q drop (stimulus cycle... More

Morgan Stanley on CarMax (KMX): 'The story of KMX's 2Q is clear: demand destruction'

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $124.00 price target on CarMax (NYSE: KMX).

The analyst comments "Same store volume down 8.3% YoY, following last quarter's -12.7% YoY, is similar to 2020 levels of unit volume decline and could be a... More

RBC Capital Quick Take on CarMax (KMX) Earnings

RBC Capital analyst Steven Shemesh reiterated an Outperform rating and $108.00 price target on CarMax (NYSE: KMX).

The analyst comments "Unsurprisingly, KMX results disappointed, reflecting a continued challenging macro environment. With consumer sentiment weakening, new car production picking up, and rates rising, the... More

Carvana (CVNA) Trades Lower in Sympathy with CarMax (KMX) Following Disappointing KMX Results

Carvana (NYSE: CVNA) Trades Lower in Sympathy with CarMax (NYSE: KMX) Following Disappointing KMX Results

CarMax (KMX) Misses Q2 EPS by 64c, Revenue Misses

CarMax (NYSE: KMX) reported Q2 EPS of $0.79, $0.64 worse than the analyst estimate of $1.43. Revenue for the quarter came in at $8.1 billion versus the consensus estimate of $8.61 billion.

For earnings history and earnings-related data on CarMax (KMX) click here.