Stock Track | CarMax Soars 5.55% in Pre-Market After Q1 Earnings Beat Estimates

Stock Track

Jun 17

CarMax Inc. (KMX) shares surged 5.55% in pre-market trading on Wednesday following the release of its better-than-expected first-quarter financial results.

The used auto retailer reported quarterly revenue of $8.01 billion, surpassing the consensus analyst estimate of $7.43 billion. The company also reported earnings per share of $1.31, exceeding the consensus forecast of 94 cents.

The revenue beat was driven by wholesale growth, with higher wholesale unit sales and increased average wholesale selling prices contributing to the top-line performance. Additionally, the company reaffirmed its target of achieving $200 million in SG&A exit rate savings by the end of fiscal 2027, highlighting ongoing cost management efforts.

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(KMX) shares surged 5.55% in pre-market trading on Wednesday following the release of its better-than-expected first-quarter financial results.</p><p>The used auto retailer reported quarterly revenue of $8.01 billion, surpassing the consensus analyst estimate of $7.43 billion. The company also reported earnings per share of $1.31, exceeding the consensus forecast of 94 cents.</p><p>The revenue beat was driven by wholesale growth, with higher wholesale unit sales and increased average wholesale selling prices contributing to the top-line performance. 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