CarMax (KMX) September weekly 78 straddle into quarter results
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Evercore ISI Reacts to CarMax (KMX) Earnings, 'Franchised dealers appear to be benefitting from off lease vehicle availability'
September 28, 2023 8:37 AM EDTEvercore ISI analyst Michael Montani reiterated an In Line rating and $80.00 price target on CarMax (NYSE: KMX).
The analyst comments "F2Q EPS (Jun-Aug) of $0.75 vs. the Street at $0.75/EVR at $0.78 shows that CarMax is facing increased headwinds from tighter financing, unfavorable credit performance, and a softening consumer backdrop. The Retail used unit comp of -9% came in below our -7%/ the Street at -8%. GPU at $2,251, or -1.4% YoY vs. the Streets +0.8% YoY outlook. SG&A was reduced 12% YoY supporting EPS this... More
