What To Expect From CarMax's (KMX) Q2 Earnings

Kayode Omotosho /
2024/06/20 3:00 am EDT

Used automotive vehicle retailer Carmax (NYSE:KMX) will be announcing earnings results. Here's what investors should know.

CarMax missed analysts' revenue expectations by 3% last quarter, reporting revenues of $5.63 billion, down 1.7% year on year. It was a weak quarter for the company, with a miss of analysts' earnings and gross margin estimates.

Is CarMax a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting CarMax's revenue to decline 7.7% year on year to $7.09 billion, improving from the 17.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.91 per share.

CarMax Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CarMax has missed Wall Street's revenue estimates five times over the last two years.

Looking at CarMax's peers in the automotive and marine retail segment, only AutoZone has reported results so far. It missed analysts' revenue estimates by 1.3%, delivering year-on-year sales growth of 3.5%. The stock was down 5.4% on the results.

Read our full analysis of AutoZone's earnings results here.

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