CarMax: Fiscal 1Q Earnings Snapshot
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.
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.