CarMax Stock Jumps. Used-Car Retailer Races Past Earnings Expectations
CarMax stock was jumping Friday after the used-car retailer reported better-than-expected quarterly earnings and revenue.
The company posted earnings of $1.38 a share for its fiscal first quarter, beating Wall Street's call for $1.16. Net revenue came in at $7.55 billion, above analysts' forecasts of $7.51 billion, with comparable-store used sales growing 8.1% from the year prior.
CarMax shares were rising 10.1% to $70.85 in premarket trading.
"We delivered our fourth consecutive quarter of positive retail comps and double-digit year-over-year earnings per share growth," CEO Bill Nash said in a statement. "These results highlight the strength of our earnings growth model."
As of the close of trading Wednesday, the stock has declined 21% in 2025, held back by tariff worries and disappointing earnings. Competitors Carvana and AutoNation have raced ahead, meanwhile, with shares of both companies rising by double-digit percentages this year.
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