CarMax Q3 Profit Down, Misses View

(RTTNews) - CarMax Inc. (KMX) reported that its third-quarter net earnings for the third quarter ended November 30, 2019 declined 9.0% to $173.2 million from last year, while net earnings per share decreased 4.6% to $1.04 from the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.16 per share. Analysts' estimates typically exclude special items. Net sales and operating revenues increased 11.5% to $4.79 billion from last year. Analysts expected revenues of $4.68 billion.

Total used vehicle unit sales increased 11.0%, including a 7.5% increase in comparable store used unit sales compared with the prior year's third quarter.

In Friday pre-market trade, KMX is trading at $97.00, down $1.83 or 1.85 percent.