Credit ExpansionCarMax is expanding to a full-spectrum credit book (expanding its non-prime lending), which should lead to higher penetration rates and profitability over time.
EarningsKMX reported adjusted operating EPS of $0.97, above the estimate of $0.90, and the Bloomberg consensus of $0.96.
Financial PerformanceComps improved through KMX's May quarter and reached slightly positive in the month of June, which is tracking ahead of slightly-negative consensus estimates.