CarMax reported fiscal Q1 2027 earnings and revenue above expectations, but its shares fell 7% due to shrinking per-unit profits and rising loan-loss reserves at its finance arm. The company’s gross profit per used vehicle declined as it prioritized volume over pricing, and credit quality concerns increased. Carvana shares also dropped 8% in sympathy, reflecting sector-wide worries about used-car pricing and credit risks. Investors will watch CarMax’s upcoming strategic update and next earnings report for signs of recovery or further challenges in the used-car market.
CarMax reported strong quarterly results with earnings per share (EPS) of $1.31, surpassing analyst expectations of $0.94, and revenue of $8.01 billion, exceeding the estimated $7.42 billion. The revenue growth was driven by higher used vehicle price...
CarMax reported first-quarter fiscal 2027 earnings of $1.31 per share, surpassing analyst estimates of 94 cents, with revenue rising 6.2% to $8.01 billion. However, gross profit declined 4.4%, and gross profit per retail used vehicle dropped by $230 ...
CarMax reported better-than-expected first-quarter results, helped by a surprise credit reserve release. Despite this, used car profit margins remain under pressure due to price cuts and consumers opting for cheaper vehicles. Financing results exceed...
CarMax reported better-than-expected Q1 earnings with adjusted EPS of $1.31 and revenue of $8.01 billion, surpassing estimates. However, shares dropped over 6% as investors focused on declining retail vehicle profitability and margin compression from...
The S&P 500 fell 0.57% to 7,511.35 on Tuesday as investors rotated out of chip stocks into cyclical sectors. Traders on Polymarket predict a 78% chance the index will open higher on Wednesday, ahead of the Federal Open Market Committee meeting under ...
