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HomeBusinessCarMax’s Upcoming Q2 Earnings Preview

CarMax’s Upcoming Q2 Earnings Preview


RBC Capital analysts provided their outlook on CarMax, Inc. (NYSE:KMX) ahead of the upcoming Q2 earnings announcement. While the analysts continue to believe in the company’s long-term share gain opportunity, they believe industry data and peer read-throughs continue to point to a deteriorating macro backdrop. RBC Capital’s bias skews to the downside on both used unit comp sales (Street’s -2.0%) and EPS (Street’s $1.43).

More encouragingly, the analyst’s channel work leads them to believe the company can now offer 100% online purchasing to nearly all consumers – which paired with a reallocation of advertising spend, should result in continued share progress.
The analysts expect Q2 used units flat year-over-year at 231,700 (Street’s 230,500). This implies the company gained share as industry data remains soft, although the analysts note visits to the company’s website were down approximately 15% year-over-year during Q2.

 

Walmart and Investment firm behind Robinhood to begin new fintech startup as a team

 

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