{"id":1611405,"date":"2025-11-06T15:45:00","date_gmt":"2025-11-06T20:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1611405"},"modified":"2025-11-06T15:45:00","modified_gmt":"2025-11-06T20:45:00","slug":"carmax-shares-crater-as-board-ousts-ceo-amid-deepening-used-car-market-cracks","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/carmax-shares-crater-as-board-ousts-ceo-amid-deepening-used-car-market-cracks\/1611405\/","title":{"rendered":"CarMax Shares Crater As Board Ousts CEO Amid Deepening Used-Car Market Cracks"},"content":{"rendered":"

CarMax Shares Crater As Board Ousts CEO Amid Deepening Used-Car Market Cracks<\/span><\/p>\n

\n

CarMax shares plunged in the early cash session after the struggling used-car retailer delivered weak preliminary third-quarter results that missed Wall Street expectations, and compounded the blow by announcing the abrupt termination of its chief executive officer.<\/p>\n

“We make car buying and selling simple, transparent, and personalized,” Chair of the Board Tom Folliard stated in a press release, adding, “However, our recent results do not reflect that potential and change is needed.”<\/p>\n

Folliard was referring to preliminary third-quarter results: earnings per share forecasted between .18 cents and .36 cents, missed the Bloomberg Consensus of .69 cents<\/p>\n

Prelim EPS 18c to 36c, estimate 69c (Bloomberg Consensus)<\/em><\/strong><\/p>\n

Prelim used unit sales in comparable stores -8% to -12%, estimate -3.7%<\/em><\/strong><\/p>\n

In addition to the weak\u00a0preliminary earnings report, the company’s board ousted\u00a0CEO William D. Nash amid declining revenue…<\/p>\n

<\/a><\/p>\n

… and stock collapse.\u00a0<\/p>\n

<\/a><\/p>\n

The combination of today’s news sent shares tumbling as much as 15%, pushing year-to-date losses to over 57%. Meanwhile, online used-car retailer Carvana has gained more than 50% so far this year.<\/p>\n

<\/a><\/p>\n

Are CarMax’s troubles a broader sign that used-car prices could tumble amid worsening consumer sentiment, with lower- and middle-income households increasingly cutting back on restaurant spending<\/a>?<\/p>\n

<\/a><\/p>\n

Let’s not forget that the implosion of subprime auto lender Tricolor Holdings<\/a> may have been an inflection point…\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 11\/06\/2025 – 10:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/carmax-shares-crater-board-ousts-ceo-amid-deepening-used-car-market-cracks<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

CarMax Shares Crater As Board Ousts CEO Amid Deepening Used-Car Market Cracks CarMax shares plunged in the early cash session after the struggling used-car retailer…<\/p>\n","protected":false},"author":0,"featured_media":1611406,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1611405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1611405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1611405"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1611405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1611406"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1611405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1611405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1611405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}