By Kit Norton
Shares of CarMax advanced after the used-car retailer's fiscal first-quarter earnings surpassed Wall Street's expectations.
CarMax posted adjusted earnings in the quarter ended May 31 of $1.31 a share, compared to $1.38 a share a year ago and above Wall Street's expectation of 96 cents. Revenue grew 6% to $8.01 billion, beating the analyst consensus call for $7.43 billion, according to FactSet.
Retail used unit sales increased slightly and comparable-store used-vehicle sales declined 0.8%.
CarMax stock gained 3.9% to $54.18 in premarket trading after ending Tuesday down 0.2%. Shares of CarMax rival Carvana rose 0.7% in premarket trading. AutoNation advanced 0.6% and Group 1 Automotive gained 1%.
Write to Kit Norton at kit.norton@barrons.com
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(END) Dow Jones Newswires
June 17, 2026 06:37 ET (10:37 GMT)
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