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CarMax: Fiscal 1Q Earnings Snapshot

June 19, 2020 GMT

RICHMOND, Va. (AP) _ CarMax Inc. (KMX) on Friday reported fiscal first-quarter earnings of $5 million.

The Richmond, Virginia-based company said it had profit of 3 cents per share. Earnings, adjusted for non-recurring costs, were 23 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The used car dealership chain posted revenue of $3.23 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $2.61 billion.

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CarMax shares have climbed 12% since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 4%. The stock has risen 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KMX at https://www.zacks.com/ap/KMX

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