CarMax: Fiscal Q2 Earnings Snapshot – WTOP News
The retailer posted $7.88 billion in revenue and $1.16 a share, while saying it will resume modest stock repurchases.
- On Tuesday, CarMax reported fiscal second-quarter earnings of $165.3 million, with the Virginia-based retailer posting revenue of $7.88 billion and topping Wall Street expectations.
- Management attributed volume growth to aggressive pricing actions aimed at a better sales trend, though retail gross profit per unit declined as a result.
- Online rival Carvana stock rose 3%, while Lithia Motors shares gained 0.8%, with the SPDR S&P Retail ETF up 0.4% in response.
- Skeptics question whether earnings gains reflect returning shoppers or one-time finance items that may not repeat, while CarMax intends to resume share repurchases at a modest level.
- CarMax will detail its growth plan and margin targets during a virtual strategic update on November 3, with Investors watching for buyback pace clarity.
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CarMax Jumps 6% as Quarterly Earnings Hit $1.16 per Share and Buybacks Set to Resume; Carvana Rises 3%, Lithia Motors Ticks Up
CarMax just posted a quarter strong enough to move rivals like Carvana and Lithia Motors higher, but skeptics are questioning whether the real driver was shoppers returning or a set of one-time finance items that may not repeat.
CarMax (NYSE:KMX) Releases Earnings Results, Beats Expectations By $0.43 EPS
CarMax (NYSE:KMX - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.43. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The company had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.09 billion.
CarMax: Fiscal Q2 Earnings Snapshot – WTOP News
RICHMOND, Va. (AP) — RICHMOND, Va. (AP) — CarMax Inc. (KMX) on Tuesday reported fiscal second-quarter earnings of $165.3 million. The Richmond, Virginia-based company said it had net income of $1.16 per share. The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 68...
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