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AutoNation posted a historically high fourth-quarter earnings, on the back of higher prices for cars. The automotive retail company’s adjusted profit came in at $6.37 a share, exceeding the consensus expectation of $5.83 (based on FactSet poll) The figure is also its highest ever for a fourth quarter. Revenue climbed +2% from the year-ago quarter to $6.7 billion, thanks to the rise in average...
Carmax third-quarter results fell short of analysts’ expectations, amidst inflationary pressures dampening consumer demand. The used-car retailer’s earnings fell -85% from a year ago to $0.24 per share in the quarter, missing the $0.70 expectation from Thomson Reuters survey. Revenue was down -24% year-over-year to $6.51 billion in the quarter, vs. analysts’ expectations of $7.3 billion...
CarMax Inc. shares climbed on Wednesday, after the vehicle-buying website reported third quarter earnings that surpassed analysts’ expectations. CarMax’s earnings for the three months ending in November rose +15% from the year-ago quarter to $1.63 per share, beating the Street forecast by 17 cents. Revenues increased +64.5% year-over-year to $8.5 billion, exceeding analysts' expectations of...
Carvana got a rating upgrade from Morgan Stanley analyst Adam Jonas who also almost doubled his price target on the online used-car retailer’s shares. Jonas raised his rating on Carvana to overweight from equal weight. He boosted price target to a Wall Street high of $420 from $225. This followed Carvana’s earnings report that showed +65% year-over-year growth in revenue to $1.83 billion for...
AutoNation posted fourth quarter earnings that exceeded analysts’ expectations. The automotive retailer’s adjusted earnings came in at $2.43 a share, well above analysts’ forecast of $2.01 a share. Revenue of $5.79 billion, also beat analysts’ expectations of $5.56 billion. Gross profit per vehicle at AutoNation increased +50% to $2775 from $919, the company said. During the fourth quarter,...
On Friday, CarMax reported fiscal first-quarter earnings that saw a steep plunge from the year-ago period, on shutdown due to the covid-19 crisis.
The retail used-cars company’ net earnings fell to $5 million, or 3 cents a share, from $266.7 million, or $1.59 a share in the year-ago period.
The EPS was also lower than the 4 cents expected by analysts polled by FactSet.
Sales declined -40% year-over-year to $3.23 billion, compared to analysts’ expectation of $2.7 billion.Comparable-store used unit sales dropped -42% during the quarter.
The overall result also included a $122 million in loan-loss provisions for CarMax’s financing unit.
Its earnings, however, fell short of analysts’ estimates.
The used-car retailer ‘s third-quarter revenue increased +11.5% year-over-year to $4.79 billion, exceeding analysts’ estimate of $4.68 billion.
Same-store sales climbed +7.5%, beating analysts' expectation of +6.2% . Strong conversion, bolstered by continued support from third-party lending partners, web traffic growth, and a favorable response to consumer initiatives boosted the results.
Used vehicle sales rose +13.6% to $4.03 billion, which is higher than analysts’ estimate of $3.97 billion.
New-age car buying company Carvana (NYSE: CVNA) saw two potential bearish signs over the last few days.The stock has rallied since early February and that is what caused the oscillators to move in to overbought territory.
In addition to the bearish stochastics crossover, the Tickeron AI Prediction tool generated a bearish signal on Carvana on February 28.