CarMax (KMX) Q1 Earnings Increase 25.6% Y/Y, Top Estimates
Zacks Investment Research | Jun 20, 2017 10:21PM ET
CarMax Inc. (NYSE:KMX) posted earnings per share of $1.13 in the first quarter of fiscal 2018 (ended May 31, 2017), reflecting an increase of 25.6% from 90 cents earned a year ago. Earnings surpassed the Zacks Consensus Estimate of 98 cents as well.
Net sales and operating revenues in the reported quarter rose 10.1% year over year to $4.54 billion. Moreover, the figure also surpassed the Zacks Consensus Estimate of $4.50 billion.
Used vehicle revenues appreciated 12.1% to $3.84 billion in the reported quarter, driven by higher unit sales, which increased 14.1% to 195,273 vehicles. Comparable-store used vehicle unit sales rose 8.2% in the quarter on improved conversion and digital initiatives.
Wholesale vehicle revenues dropped 2.3% to $553.4 million in the quarter. Unit sales almost remained flat at 103,443 vehicles. Average selling price of wholesale vehicles declined 2.9% to $5,113.
Other sales and revenues increased 12.3% to $145.6 million. Its extended protection plan (EPP) revenues grew 20.5% to $91.94 million.
Gross profit improved 13.3% to $648.9 million.
CarMax Auto Finance (CAF) reported an increase of 8.5% in income to $109.4 million in first-quarter fiscal 2018.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.