CarMax Earnings: Here’s Why Investors Like These Results
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 4.7%.
CarMax Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 29.17% to $0.62 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 17.68% to $3.25 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CarMax Inc. reported adjusted EPS income of $0.62 per share. By that measure, the company beat the mean analyst estimate of $0.57. It beat the average revenue estimate of $3.16 billion.
Quoting Management: “We are very pleased with our continued strong sales and earnings growth,” said Tom Folliard, president and chief executive officer. “The improvement was driven by several contributors, including double-digit growth in used and wholesale unit sales and CAF income.”
Key Stats (on next page)…