Shares in CarMax (NYSE:) rose greater than 2% in premarket buying and selling Thursday after the used automobile retailer reported better-than-expected income for the fiscal Q2 2025.
The corporate posted quarterly earnings per share (EPS) of $0.85, matching analysts’ expectations. Internet gross sales and working income rose to $7.01 billion, exceeding the consensus estimate of $6.82 billion.
Used automobile gross sales got here in at $5.68 billion, up 1.5% year-over-year, beating the estimated $5.44 billion.
In the meantime, wholesale automobile gross sales totaled $1.15 billion, down 13% year-over-year, barely lacking the $1.2 billion forecast.
“We’re happy with the continued enchancment of the enterprise within the second quarter, which displays the constructive influence of our sturdy actions to additional differentiate the worth and expertise we provide associates and clients, continued year-over-year value declines, and improved stability in automobile valuations,” stated Invoice Nash, president and CEO of CarMax.
“We grew retail used unit gross sales, delivered robust margins, continued to handle SG&A, and drove double-digit earnings development whereas managing by way of industry-wide auto mortgage loss stress,” he added.
