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CarMax Earnings: KMX Stock Falls 4% Despite Q4 Beat

CarMax (NYSE:KMX) earnings for the company’s fiscal fourth quarter of 2020 have KMX stock falling on Thursday. This is despite it reporting diluted earnings per share (EPS) of $1.30. That’s better than Wall Street’s estimate of $1.13 per share for the period. Its revenue of $4.96 billion is also better than analysts’ estimates of $4.7 billion.

CarMax Earnings: KMX Stock Falls 5% Despite Q4 Beat

Source: Jonathan Weiss / Shutterstock.com

Now, let’s move on to some of the finer details from the most recent CarMax earnings report.

  • Diluted per-share earnings are up 15.04% from $1.13 during the same time last year.
  • Revenue comes in 14.82% higher than the $4.32 billion from the fiscal fourth quarter of 2019.
  • The CarMax earnings report also includes a net income of $214.93 million.
  • That’s an 11.62% increase compared to the company’s net income of $192.56 million from the same period of the year prior.

Bill Nash, president and CEO of CarMax, said this in the KMX stock earnings report:

“The Coronavirus pandemic is unprecedented. The situation is dynamic and changing quickly, making it difficult to predict what the immediate future holds. However, we believe we have the leadership experience, liquidity, resources, financial stability and partners in place to withstand the current environment and be well positioned for when the economy and consumers rebound.”

The CarMax earnings report doesn’t include guidance for fiscal 2021. However, the company does note that it saw strong sales in early March. Unfortunately, the effects of the novel coronavirus have resulted in it closing many locations and sales falling.

KMX stock ended the day Thursday down 4.13%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/04/carmax-earnings-drop-kmx-stock-despite-beat/.

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