CarMax reports Q1 EPS $1.38, consensus $1.17

Reports Q1 revenue $7.55B, consensus $7.53B. Retail used unit sales increased 9.0% and comparable store used unit sales increased 8.1%; wholesale units increased 1.2%. Combined retail and wholesale used vehicle unit sales were 379,727, an increase of 5.8% from the prior year’s first quarter. “We delivered our fourth consecutive quarter of positive retail comps and double-digit year-over-year earnings per share growth. These results highlight the strength of our earnings growth model, which is underpinned by our best-in-class omni-channel experience, the diversity of our business, and our sharp focus on execution,” said Bill Nash, CEO. “Our associates, stores, technology and digital capabilities, all seamlessly tied together, enable us to provide the most customer-centric car buying and selling experience. This is a key differentiator in a very large and fragmented market that positions us to continue to drive sales, gain market share, and deliver significant year-over-year earnings growth for years to come.”