Image source: The Motley Fool. CarMax (NYSE: KMX)Q2 2024 Earnings CallSep 28, 2023, 9:00 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorLadies and gentlemen, thank you for standing by.
Shares of Carvana (NYSE: CVNA) were having another roller-coaster month in September. The online used car dealer's stock briefly popped after its credit rating was upgraded, but soon after, the stock tumbled in response to the Federal Reserve's interest rate forecast. The strike by the United Auto Workers also seemed to weigh on the stock, and a weak report by rival CarMax may have given more fuel to the bears.
CarMax's (KMX) second-quarter comparable store used-vehicle units declined by 9%, while revenues fell by 12.5% from the prior-year level.