Skip to Content
MarketWatch

CarMax shares fall after company misses earnings estimate

CarMax Inc. (KMX) said Thursday its second-quarter net income fell about 4% to $285.3 million or $1.72 a share, from $296.7 million, or $1.79 a share in the year-ago period. The car retailer said earnings per share fell due to last year's Covid-related cost savings. Sales rose to $7.99 billion, a record, from $5.37 billion in the year-ago period. Analysts expected earnings of $1.88 a share and sales of $6.91 billion, according to a survey by FactSet. Shares of CarMax fell nearly 8% in pre-market trades. The stock is up 55% so far this year compared to a 16% increase by the S&P 500 .

-Steve Gelsi

 

(END) Dow Jones Newswires

09-30-21 0749ET

Copyright (c) 2021 Dow Jones & Company, Inc.