Headquartered in Richmond, VA, CarMax Inc. (KMX - Free Report) is a leading retailer of used vehicles, which operates through 190 used car stores in 92 television markets.
CarMax’s first quarter of fiscal 2019 (ended May 31, 2018) adjusted earnings came in at $1.33 per share reflecting a year over year rise of 17.7%. Further, the figure surpassed the Zacks Consensus Estimate of $1.21.
Net sales and operating revenues came in at $4.79 billion, up 5.5% year over year. Moreover, revenues surpassed the Zacks Consensus Estimate of $4.63 billion.
Estimate Trend & Surprise History
Investors should note that Zacks Consensus Estimate for the first quarter of fiscal 2019 earnings has been revised 0.8% downward over the last seven days.
In the last reported quarter, the company reported negative earnings surprise of 13.5%. In the trailing four quarters, the company surpassed estimates twice while missing the other two, recording an average beat of 0.9%.
CarMax, Inc. Price and EPS Surprise
Key Stats/Developments to Note
During the first quarter of fiscal 2018, used vehicle revenues rose 4.6% to $4 billion and wholesale vehicle revenues rose 11.6% to $617.7 million
Further, within the next 12 months from May 31, 2018, CarMax plans to enter in 10 new television markets and expand its presence in five existing television markets.
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.
Check back later for our full write up on CarMax’s earnings report!
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