CarMax (KMX) Beats On Q1 Earnings & Revenue Estimates

CarMax Inc. (NYSE:KMX) , headquartered in Richmond, VA, operates as a specialty retailer of used vehicles as well as new vehicles.

Estimate Trend & Surprise History

Investors should note that earnings estimates for the first quarter of fiscal 2018 (ended May 31, 2017) for CarMax have declined over the past one month.

The company has delivered mixed earnings surprises. It has missed the Zacks Consensus Estimate in one of the trailing four quarters, beat in two and was in line in one, with an average positive surprise of 0.44%.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings

CarMax’s earnings increased 25.6% year over year to $1.13 per share in the first quarter of fiscal 2018. It also surpassed the Zacks Consensus Estimate of 98 cents.

Revenues

CarMax reported revenues of $4.54 billion, up 10.1% year over year. Moreover, revenues surpassed the Zacks Consensus Estimate of $4.5 billion.

Key Stats/Developments to Note

During the first quarter of fiscal 2018, used unit sales in comparable stores grew 8.2% year over year and total used vehicles unit sales rose 14.1%.

During the quarter, CarMax Auto Finance (CAF) income rose 8.5% to $109.4 million.

Zacks Rank

CarMax currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released. Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Market Reaction

CarMax’s shares were up 7.2% in pre-market trading session today. It would be interesting to see how the market reacts to the results during the trading session today.

Check back later for our full write up on CarMax’s earnings report!

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