CarMax's Stock Pulls Back After Profit, Used Car Sales Disappoint
Shares of CarMax Inc. $(KMX)$ dropped 8% in premarket trading Thursday, after the used-car retailer's fiscal fourth-quarter profit and comparable store sales disappointed, even as overall revenue was in line.
The selloff comes after the stock jumped 9.2% on Wednesday, amid a broad-market rally after President Trump's tariff "pause" announcement.
CarMax reported net earnings per share for the quarter to Feb. 28 of 58 cents, up from 32 cents in the same period a year ago but below the FactSet consensus of 66 cents.
Revenue grew 6.7% to $6.0 billion, to match the FactSet consensus. Meanwhile, used vehicle sales increased 7.5% to $4.84 billion, just shy of expectations of $4.87 billion, as comparable sales rose 5.1% but missed expectations of 6.4% growth.
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