All articles tagged with #carmax
CarMax reported a decline in used vehicle sales and earnings for Q3 FY2026, with leadership changes and ongoing cost reduction efforts, while auto finance income increased and share repurchases continued.
CarMax's stock dropped about 10% after the company announced a weak fiscal outlook and the unexpected resignation of CEO Bill Nash, with interim leadership appointed and a focus on improving sales and profitability amid ongoing struggles.
CarMax experienced a significant drop in used car values this summer due to aggressive pricing by competitors, leading to a 6.3% decline in same-store sales and a 20% plunge in shares. The company faced a rapid $1,000 per vehicle depreciation over a month, amid shifting consumer preferences towards older, higher mileage vehicles and a challenging inflationary environment. Despite earlier price hikes driven by tariffs, prices have since fallen, prompting CarMax to lower retail margins and adjust strategies to remain competitive in a tough market.
CarMax's stock hit a 52-week low after missing Q2 earnings and revenue targets due to weaker retail sales and higher loan loss provisions, despite strategic store expansions and efforts to improve efficiency.
CarMax's stock dropped to a more than five-year low after the company reported a disappointing second quarter with lower-than-expected profit, sales, and used car prices, prompting plans to cut costs amid a challenging market environment.
CarMax reported a 28.2% decline in net earnings for Q2 2026, with decreases in used vehicle sales, gross profit, and auto finance income, but announced plans for significant SG&A reductions and share repurchases amid challenging market conditions.
The article highlights the most active stocks today, including Tesla, GMS, CarMax, Accenture, Circle Internet, and Smith & Wesson, indicating significant market movements among these companies.
CarMax shares surged to their best day in two years after reporting first-quarter profits that exceeded expectations, driven by the highest growth in used-vehicle sales since 2021, benefiting from tariffs on foreign cars that have increased demand for used vehicles.
CarMax recently listed 11 nearly identical lime green 2022 Ford F-150s, which were previously used as fleet vehicles by tool manufacturer Ryobi. These trucks, painted in a unique shade directly at the factory, were part of Ryobi's Leadership Development Program for college graduates. Despite their basic XL trim, they included features like Apple CarPlay and Android Auto. With Ryobi phasing out the program, more of these trucks may appear on CarMax lots, though potential buyers should check service histories due to maintenance concerns.
CarMax is selling 11 identical lime green 2022 Ford F-150 XL models across the U.S., likely previously owned by Ryobi, a tool manufacturer known for its fleet of lime-green trucks. These basic work trucks, scattered from Washington to Massachusetts, are priced between $21,998 and $26,998, depending on mileage. The trucks' unique color and configuration suggest they were part of a fleet, although this remains unconfirmed.
CarMax reported a 33% decline in Q1 profit, attributing the drop to inflation, high interest rates, and tighter lending standards. Despite the profit decline, shares rose by 2.9%. The company saw an 8.6% decrease in vehicle purchases and a 3.1% drop in retail used unit sales. Analysts are divided, with some focusing on the company's cost discipline and others on its market share struggles.
CarMax reported a 33% drop in first-quarter profit due to lower margins and affordability challenges in the used-vehicle market, with net income falling to $152.4 million. The company cited inflation, higher interest rates, and tightened lending standards as ongoing headwinds, despite some improvement in used-vehicle retail sales in May.
Nvidia shares are falling on "triple witching" day, Gilead Sciences is rising after positive HIV drug trial results, Sarepta Therapeutics soars on expanded FDA approval for its gene therapy, Chipotle is in focus ahead of its 50-for-1 stock split, and CarMax gains despite missing quarterly forecasts.
Nvidia shares are falling on "triple witching" day, Gilead Sciences is gaining on positive HIV drug trial results, Sarepta Therapeutics soars after expanded FDA approval for its gene therapy, Chipotle is in focus ahead of a 50-for-1 stock split, and CarMax shares rise despite missing quarterly forecasts. U.S. stock futures are down following Nvidia's decline.
