Shares of used car retailer CarMax (KMX) are falling this morning over its mixed second-quarter earnings, citing declining used car demand and higher interest rates impacting business. Yahoo Finance Live takes a look at the stock action surrounding the auto dealer in a tightened consumer environment. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Investors in CarMax (NYSE: KMX) are having a rough Thursday. Shares of the used car superstore chain tumbled 9.8% through 10:10 a.m. ET after the company reported a narrow miss on fiscal Q2 2024 earnings. Heading into the quarter, analysts had forecast CarMax would earn $0.78 per share on sales of $7 billion.
The headline numbers for CarMax (KMX) give insight into how the company performed in the quarter ended August 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.