CarMax (KMX) Earnings Date and Reports 2024
https://www.marketbeat.com/stocks/NYSE/KMX/earnings/
CarMax is set to announce its fiscal third-quarter results on Thursday, December 22. Analysts expect a steep decline in the company’s earnings and revenue amid declining demand for used cars due to challenging macro conditions.
CarMax’s revenue grew 2% to $8.1 billion in the fiscal second quarter. The company’s earnings per share (EPS) declined 54% year-over-year to $0.79, significantly lagging analysts’ consensus estimate of $1.39. Costs in the quarter increased at a higher pace than sales and dragged down the gross margin to 9.05% from 10.2% in the prior-year quarter.
CarMax is focused on driving further operational efficiencies as it continues to navigate adverse business conditions. It is taking various measures, including staff reduction, to align its expenses to the sales levels.
Verdict: Cautiously optimistic. CarMax’s profitability and sales are expected to continue to be under pressure amid tough business conditions and a decline in consumer spending on big-ticket items like cars. Management’s commentary will shed more light on the extent of weakness expected in the upcoming quarters.
Powered by Froala Editor