CarMax Earnings: Here’s Why Investors are Excited Now
CarMax Inc. (NYSE:KMX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.75%.
CarMax Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 23.08% to $0.64 in the quarter versus EPS of $0.52 in the year-earlier quarter.
Revenue: Rose 19.34% to $3.31 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CarMax Inc. reported adjusted EPS income of $0.64 per share. By that measure, the company beat the mean analyst estimate of $0.58. It beat the average revenue estimate of $3.15 billion.
Quoting Management: “We are very pleased to report our strongest increase in comparable store used unit sales in several years,” said Tom Folliard, president and chief executive officer. “Strong retail sales growth, together with continued contributions from CAF and wholesale drove all-time record quarterly revenues and earnings.”
Key Stats (on next page)…