CarMax Q1 Revenue Jumps 6.2% to $8.01B, Tops Estimates on Higher Prices
KMX sits 81% above its 52-week low of $30.26 on elevated volume (2.2× avg).
Summary
CarMax reported first-quarter revenue of $8.01 billion, exceeding analyst estimates of $7.4 billion, driven by higher used-vehicle prices and strong wholesale demand. Shares rose over 5% in premarket trading following the announcement. This news provides additional detail to the 8-K filed earlier today, which noted a 5.1% decline in diluted EPS and a 0.8% drop in comparable store sales. Despite a decline in retail gross profit per unit, the significant revenue beat indicates strong top-line performance.
At the time of this announcement, KMX was trading at $54.79 on NYSE in the Trade & Services sector, with a market capitalization of approximately $7.4B. The 52-week trading range was $30.26 to $71.99. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.