(Tiper Stock Exchange) – Car Maxa US used-vehicle dealer, has filed Net revenues equal to 7.7 billion dollars in first quarter of fiscal year 2024 (ended May 31, 2023), down 17.4% from the first quarter of the previous year. Retail used unit sales decreased 9.6% and used unit sales at comparable stores decreased 11.4%.
L’earning per share was $1.44, down from $1.56 a year ago; The current year quarter included a $0.28 benefit in connection with a legal settlement. L’adjusted earnings per share it was $1.16.
The analysts they expected, on average, earnings per share of $0.79 on revenues of $7.5 billion, according to Refinitiv data.
“Our deliberate actions are driving better trends in the business, despite the difficult macro context – commented the CEO Bill Nash Our unit performance in used, wholesale and consumer and retailer buying improved sequentially from year-over-year trends in the second half of fiscal 2023.”
“We are giving the prioritize projects that promote operational efficiency and create better experiences for our collaborators and customers – he added – We believe that these steps will allow us to emerge from this cycle leaner and more effective, while also positioning us for future growth”.
(Photo: @pixel7propix on Unsplash)