Online used car dealer CarMax (KMX:NYSE) might pine for the lockdown days of Covid. Since peaking at nearly $155 in November 2021, the stock has been freewheeling downhill ever since, plagued by macro uncertainties, falling used car prices and a generally capricious investment backcloth.

The big question going into first quarter fiscal 2026 earnings (20 June) is where the firm stands on its growth plans, having pulled timelines last quarter following escalating worries overt rising loan losses as the US economy stutters and customers begin to default.

‘We are focused on growing the business, and we continue to make progress toward our long-term goals,’ the firm said in a statement. ‘However, we are removing the timeframes associated with them given the potential impact of broader macro factors.’

On the bright side, CarMax said the growth in the number of vehicles sold was at the highest rate in more than three years, and the average price for a car rose, to snap an eight-quarter streak of declines, largely thanks to president Trump’s tariffs on new car imports.  

There will undoubtedly be a lot to unpack when the company does report, but with the shares having fallen to the $65 level there is plenty of bad news in the price already. 

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

18 June: Korn Ferry, Winnebago Industries

19 June: Carnival

20 June: CarMax

‹ Previous2025-06-12Next ›