CarMax Stock Plummets on Q2 Earnings Miss
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BTCCSquare news:
CarMax (KMX) shares tumbled 9.33% in pre-market trading after posting disappointing fiscal Q2 2026 results. The used auto retailer reported earnings of 64 cents per share—a 24.7% year-over-year decline—falling far short of Wall Street's $1.04 expectation. Revenue likewise disappointed at $6.59 billion versus $7.01 billion estimates, marking a 5.99% annual drop.
The weakness stemmed from a 4.1% combined decline in retail and wholesale vehicle sales. CEO Bill Nash acknowledged the challenges but emphasized confidence in the company's long-term strategy. Year-to-date, KMX shares have cratered 30.22% as the used car market continues to face headwinds.
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