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CarMax Q1 Earnings Beat Expectations as Used-Car Demand Rises
CarMax Q1 Earnings Beat Expectations as Used-Car Demand Rises
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CarMax Inc. shares surged over 5% after posting stronger-than-expected first-quarter results. Earnings per share reached $1.38, surpassing the $1.16 analyst estimate, while revenue climbed 6.1% to $7.55 billion. The performance was driven by an 8.1% increase in same-store sales as tariff concerns bolstered demand for used vehicles.
The company's expansion of AI tools contributed to improved operational efficiency and cost reductions. Analysts maintain a bullish consensus, with the stock trading at $68.08 at the time of reporting. CarMax has now delivered four consecutive quarters of positive retail comparable sales and double-digit earnings growth.
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