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Why CarMax Stock Crashed 9.8% Today

TheMotleyFool

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Investors in CarMax (NYSE: KMX) are having a rough Thursday. Shares of the used car superstore chain tumbled 9.8% through 10:10 a.m. ET after the company reported a narrow miss on fiscal Q2 2024 earnings.

Heading into the quarter, analysts had forecast CarMax would earn $0.78 per share on sales of $7 billion. As it turned out, CarMax beat that revenue target with $7.1 billion in sales. Earnings, however, came up a bit short at $0.75 per share.

And even CarMax's sales news wasn't all good.

Source Fool.com

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