CarMax Q3 Results Top Consensus - Quick Facts

(RTTNews) - Used vehicles retailer CarMax, Inc. (KMX) posted higher net earnings of $130.0 million, or $0.60 per share for the third quarter, versus the prior year's $106.5 million, or $0.47 per share. On average, 16 analysts polled by Thomson Reuters expected earnings of $0.54 per share for the quarter. Analysts' estimates typically exclude special items.

Year-over-year, quarterly net sales and operating revenues increased 15.8% to $3.41 billion from $2.94 billion, while 12 analysts estimated revenues of $3.26 billion.

Total used vehicle unit sales grew 14.0% and comparable store used unit sales increased 7.4% versus the prior year's third quarter. Comparable store used unit sales benefited from a combination of factors, including our sixth consecutive quarter of growth in customer traffic, as well as improved conversion.

Tom Folliard, president and chief executive stated: "Continued strong performance in our used, wholesale and CAF operations, along with the growth of our store base and our ongoing share repurchase program contributed to our record third quarter earnings per share."