CarMax's (KMX) Q3 Earnings Miss, Revenues Top Estimates
Zacks Investment Research | Dec 19, 2019 10:35PM ET
CarMax Inc. (NYSE:KMX) , the specialty retailer of used and new vehicles, posted third-quarter fiscal 2020 (ended Nov 30, 2019) net earnings per share of $1.04, missing the Zacks Consensus Estimate of $1.16. Notably, lower-than-expected revenues across the wholesale vehicle segment resulted in the underperformance. Precisely, sales in the wholesale vehicle segment came in at $611 million, missing the consensus mark of $634 million.
The bottom line also compared unfavorably with a profit of $1.09 per share reported in the year-ago quarter.
Net sales and operating revenues in the reported quarter increased 11.5% year over year to $5,790 million. The top line beat the Zacks Consensus Estimate of $4,709 million. Total gross profit rose 7.8% year over year to $613.6 million.
In third-quarter fiscal 2020, CarMax opened four stores: two in existing markets —Texas andGeorgia, and two in new markets— California and Mississippi.
CarMax, Inc. Price, Consensus and EPS Surprise
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