CarMax shares slide 4% premarket after profit miss as COVID, declining consumer confidence and inflation weigh

CarMax Inc. shares undefined slid 6% in premarket trade Tuesday, after the retailer of used cars missed fiscal fourth-quarter profit estimates, offsetting a...

CarMax Inc. shares slid 6% in premarket trade Tuesday, after the retailer of used cars missed fiscal fourth-quarter profit estimates, offsetting a revenue beat, weighed down by a range of factors. The company posted net earnings of $159.8 million, or 98 cents a share, for the quarter to Feb. 28, down from $209.9 million, or $1.27 a share, in the year-earlier period. Sales and operating revenue rose to $7.687 billion from $5.164 billion a year ago. The FactSet consensus was for EPS of $1.

687 billion from $5.164 billion a year ago. The FactSet consensus was for EPS of $1.27 and sales of $7.499 billion. Chief Executive Bill Nash said the quarter was hurt by macro factors but the rollout of a new online instant appraisal offer helped the company retain its position as biggest U.S. buyer of used cars.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in US

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Covid-19 Vaccines Carry Low Risk of Heart Conditions, Studies FindTwo large reviews found cardiac risks including myocarditis were higher following Covid-19 infection and non-Covid vaccination than after Covid vaccination.
Read more »

Buying furniture? Expect to pay more and wait longer for it to shipSupply chain issues, transportation and shipping costs, port backups, inflation and COVID-19 have all impacted the way furniture store retailers do business these days.
Read more »

Anderson Cooper Tests Positive For Covid, Misses Tonight’s CNN ShowAnderson Cooper missed his CNN program tonight after saying on social media that he has tested positive for Covid. “Just tested positive for Covid,” Cooper posted on Instagram. “T…
Read more »

Covid-19: Three Covid-related deaths and 562 casesThe total number of deaths linked to Covid-19 in NI since the start of the pandemic is 3,364.
Read more »

Public Health Experts Raise Alarm Amid Capitol Hill Covid-19 OutbreakThe federal government's messaging on Covid-19 community levels may be giving the public a false sense of confidence, one doctor cautioned, calling for public masking when cases are surging.
Read more »