CarMax reports Q2 earnings beat with 3.3% used vehicle sales growth, but profit per vehicle declines. New CEO Keith Barr pushes strategic overhaul amid operational challenges and activist pressure.
Carvana had a record Q1: sold 187k cars (+40%), revenue $6.4B, strong profit, fast growth, expects better Q2; stock up.
BofA cut Carvana to Neutral: higher gas and rates hurt buyers, so upside is limited and risks are now evenly balanced.
Carvana announces first-ever 5-for-1 forward stock split, pending May 5, 2026 shareholder approval, to boost team ownership and affordability.
Activist Starboard takes $350M stake in CarMax, nominates board members, and pushes for faster turnaround under incoming CEO Keith Barr.
Online used-car giant Carvana misses profit forecasts due to higher costs, sending shares plunging 21% after hours despite record sales and revenue growth.
