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CarMax Inc. (KMX - Free Report) , headquartered in Richmond, VA, operates as a specialty retailer of used vehicles as well as new vehicles. It is one of the largest retailers of used vehicles in the U.S. The company is poised to benefit from its focus on the used-car market, which helps it to outperform the industry.
Furthermore, CarMax pursues an aggressive store growth policy, driven by improvements in the sales environment in the U.S. New stores help the company to penetrate into new markets and thus, boost its results. However, rising competition in the used-car market is highly challenging for the company.
Estimate Trend & Surprise History
Investors should note that the second-quarter (ended Aug 31, 2016) fiscal 2017 earnings estimate for CarMax has decreased by a penny over last 30 days.
The company has delivered mixed earnings surprises in recent quarters. It has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters with an average beat of around 0.01%. Thus, investors have been eagerly awaiting CarMax’s latest earnings report.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
CarMax’s adjusted earnings increased 11.4% to 88 cents per share in the second quarter of fiscal 2017, in-line with the Zacks Consensus Estimate.
Revenues
CarMax reported revenues of $4 billion, up 2.9% year over year. However, revenues missed the Zacks Consensus Estimate of $4.13 billion.
Key Stats/Developments to Note
During the second quarter of fiscal 2017, CarMax opened 3 stores, of which two were in new markets (El Paso, TX and Bristol, TN). Subsequent to the end of the quarter, the company opened a store in Boise, ID, which is a new market. In fiscal 2017, the company plan to open 15 stores.
Check back later for our full write up on CarMax’s earnings report!
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CarMax's (KMX) Q2 Earnings In-line, Rise 11.4% Y/Y
CarMax Inc. (KMX - Free Report) , headquartered in Richmond, VA, operates as a specialty retailer of used vehicles as well as new vehicles. It is one of the largest retailers of used vehicles in the U.S. The company is poised to benefit from its focus on the used-car market, which helps it to outperform the industry.
Furthermore, CarMax pursues an aggressive store growth policy, driven by improvements in the sales environment in the U.S. New stores help the company to penetrate into new markets and thus, boost its results. However, rising competition in the used-car market is highly challenging for the company.
Estimate Trend & Surprise History
Investors should note that the second-quarter (ended Aug 31, 2016) fiscal 2017 earnings estimate for CarMax has decreased by a penny over last 30 days.
The company has delivered mixed earnings surprises in recent quarters. It has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters with an average beat of around 0.01%. Thus, investors have been eagerly awaiting CarMax’s latest earnings report.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings
CarMax’s adjusted earnings increased 11.4% to 88 cents per share in the second quarter of fiscal 2017, in-line with the Zacks Consensus Estimate.
Revenues
CarMax reported revenues of $4 billion, up 2.9% year over year. However, revenues missed the Zacks Consensus Estimate of $4.13 billion.
Key Stats/Developments to Note
During the second quarter of fiscal 2017, CarMax opened 3 stores, of which two were in new markets (El Paso, TX and Bristol, TN). Subsequent to the end of the quarter, the company opened a store in Boise, ID, which is a new market. In fiscal 2017, the company plan to open 15 stores.
Zacks Rank
Currently, CarMax has a Zacks Rank #3 (Hold), but that could change following its earnings report which has just released.Meanwhile, you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction
CarMax’s shares fell 5.5% in pre-market trading so far following the release. Clearly, the initial reaction to the report is negative.
CARMAX GP (CC) Price and EPS Surprise
CARMAX GP (CC) Price and EPS Surprise | CARMAX GP (CC) Quote
Check back later for our full write up on CarMax’s earnings report!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>