KMX - What's Going On With Carvana Stock Thursday? | Benzinga
Carvana Co (NYSE:CVNA) shares are moving lower. The stock appears to be trading down in sympathy with shares of competitor CarMax Inc (NYSE:KMX), which fell on worse-than-expected earnings results.
What Happened With KMX: Carmax reported fourth-quarter revenue of $5.63 billion, which missed the consensus estimate of $5.79 billion, according to Benzinga Pro. The company reported quarterly earnings of 32 cents per share, which missed estimates of 49 cents per share.
Net revenues were down 1.7% on a year-over-year basis, while comparable sales increased 0.1% compared to the prior year’s fourth quarter. Combined retail and wholesale used vehicle unit sales were 287,603, representing a decline of 0.9% from the prior year’s quarter.
“We are encouraged by the performance of our business during the fourth quarter. We reported growth in total used unit sales and comps, delivered strong ...