CarMax Accelerates Used Car Sales Growth, Despite Earnings Miss

CarMax, Inc. (NYSE:KMX) shares are trading higher after the company reported fourth-quarter earnings results.

Quarterly sales of $6 billion beat the street view of $5.96 billion.

Retail used unit sales rose by 6.2% Y/Y

Comparable store used unit sales increased by 5.1% Y/Y

Wholesale units increased 3.1% Y/Y.

The company reported earnings per share of 58 cents, missing the analyst consensus estimate of 68 cents.

CarMax Auto Finance income was $159.3 million, an increase of 8.2 % year over year (Y/Y)

The provision for loan losses stood at $68.3 million vs. $71.6 million a year ago quarter.

Gross profit per retail used unit was $2,322 ...

https://www.benzinga.com/25/04/44733776/carmax-accelerates-with-6-growth-in-used-car-sales-despite-earnings-miss