CarMax (KMX) Tops Q3 EPS by 28c

CarMax (NYSE: KMX) reported Q3 EPS of $1.42, $0.28 better than the analyst estimate of $1.14. Revenue for the quarter came in at $5.2 million versus the consensus estimate of $5 million.

CEO Commentary:

“We delivered strong EPS growth this quarter thanks to solid execution by our teams,” said Bill Nash, president and chief executive officer. “Despite the near-term market challenges due to the trajectory of the pandemic, our fundamentals remain robust and reflect the strength of our diversified business model spanning retail, wholesale, and auto finance. This strength, combined with our emerging omni-channel experience, is a unique advantage in the used car industry that firmly positions us to continue growing our market share while creating shareholder value over the long-term.”

Nash continued, “We have an incredible platform with unmatched scale and strength across buying, selling and inventory management. The foundation of our success remains providing a world-class experience for our customers, no matter how they interact with us. Our omni-channel capabilities give customers the flexibility to seamlessly connect and transact with us in more ways than ever. We are pleased with the increase in online engagement we are already seeing, and, with the further digital enhancements and offerings we are rolling out, we are creating a customer experience we believe will be unrivaled in the used car industry.”

For earnings history and earnings-related data on CarMax (KMX) click here.

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