CarMax Trades Higher On Q2 Earnings Beat

CarMax, Inc. KMX shares are trading higher after the company reported better-than-expected second-quarter EPS and sales results.

The company reported second-quarter earnings of $1.40 per share, which beat the analyst consensus estimate of $1.33 by 5.26%. This is a 12.9% increase over earnings of $1.24 per share from the same period last year.

CarMax reported quarterly sales of $5.2 billion, which beat the analyst consensus estimate of $5.06 billion by 2.77%. This is a 9.11% increase over sales of $4.766 billion the same period last year.

"CarMax posted solid second-quarter results, and our double-digit increase in earnings per share reflected growth across our used, wholesale and CAF operations, along with ongoing share repurchases," said Bill Nash, CEO of CarMax.

CarMax shares are trading up 3.28% at $89.75 in Tuesday's pre-market session. The stock has a 52-week high of $92.01 and a 52-week low of $55.24 per share.

Related Links:

AutoZone Reports Q4 Earnings Miss

CarMax Analyst Raises Price Target After Strong Q1, But Says Comp Growth Could Slow