Why CarMax Shares Are Surging Today
Portfolio Pulse from Shivani Kumaresan
CarMax Inc (NYSE:KMX) reported a Q1 FY23 sales decline of 17.4% YoY to $7.69 billion, beating analyst consensus of $7.53 billion. Adjusted EPS of $1.16 beat the consensus estimate of $0.79. CarMax shares were trading higher by 7.89% at $84.50 in premarket on Friday.
June 23, 2023 | 12:26 pm
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POSITIVE IMPACT
CarMax reported better-than-expected Q1 FY23 sales and adjusted EPS, leading to a 7.89% surge in premarket trading.
CarMax's Q1 FY23 sales and adjusted EPS beat analyst consensus, indicating a better-than-expected financial performance. This positive news is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100