Shares of used vehicle retailer CarMax (NYSE: KMX) were up in pre-market trading at the time of publishing on Friday after the company announced adjusted earnings of $1.16 in fiscal Q1, which excluded a $0.28 benefit in connection with a legal settlement and exceeded consensus estimates of $0.79 per share.
The retailer’s Q1 net revenues declined by 17.4% year-over-year to $7.7 billion as compared to Street estimates of $7.5 billion. The company’s retail, comparable store, and wholesale used unit sales all declined in fiscal Q1 by 9.6%, 11.4%, and 13.6%, respectively.
Analysts are cautiously optimistic about KMX stock with a Moderate Buy consensus rating based on four Buys, five Holds, and one Sell.
