CarMax Inc. (NYSE:KMX) reported first quarter earnings before market open today, that beat street view.
On a GAAP basis, KMX reported net income of $ 238.66 million or $ 1.33 per share, compared with income of $ 211.70 million or $ 1.13 per share, a year ago period.
Headquartered in Richmond, Virginia, KMX recorded operating revenue that rose 6% to $ 4.79 billion from $ 4.54 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected CarMax to reveal income of $ 1.24 per share on revenue of $ 4.61 billion for the first quarter.
While our comparable store unit sales performance improved significantly from the February 2018 quarter, we believe macro pricing factors still had some effect on our first quarter sales, said Bill Nash, president and chief executive officer.