CarMax Stock Surges 10% on Strong Q1 Earnings Beat
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CarMax (KMX) shares jumped nearly 11% in pre-market trading after the used car retailer reported fiscal first-quarter results that handily surpassed analyst expectations. The company posted diluted earnings of $1.38 per share, significantly higher than the $1.16 consensus estimate and marking a 42% year-over-year increase.
Revenue climbed 6% to $7.55 billion, exceeding projections of $7.5 billion. Despite the strong quarterly performance, KMX shares remain down more than 21% year-to-date, reflecting broader challenges in the automotive retail sector.
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