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CarMax reports EPS in-line, beats on revs; Q3 comps +2.7%
- Reports Q3 (Nov) earnings of $0.81 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.81; revenues rose 11.0% year/year to $4.11 bln vs the $3.97 bln Capital IQ Consensus.
- Total used vehicle unit sales grew 8.2% and comparable store used unit sales rose 2.7% versus the prior year's third quarter.
- "Total wholesale vehicle unit sales increased 9.1% compared with the third quarter of fiscal 2017, reflecting a substantial increase in our appraisal buy rate and the growth in our store base. Other sales and revenues increased 5.1% compared with the third quarter of fiscal 2017."
- Total gross profit increased 7.2% versus last year's third quarter, to $539.2 million. Used vehicle gross profit rose 7.9%, driven by the 8.2% increase in total used unit sales.
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