Providers and Administrators in blue logo
MenuMENU
SearchSEARCH

CarMax Soars as Earnings, Revenues Top Analyst Estimates

June 23, 2014
2 min to read


CarMax Inc., the biggest U.S. auto dealer by market valuation, soared the most in five years after its fiscal first-quarter earnings and revenue topped analyst estimates as increased customer traffic boosted vehicle sales, reported Bloomberg.


Shares of CarMax jumped more than 16 percent to $52.75 at the close in New York, the biggest gain since June 19, 2009. CarMax had declined 3.7 percent this year through yesterday.

Ad Loading...


Net income for the three months ended May 31 rose 16 percent to $169.7 million, or 76 cents a share, the Richmond, Virginia-based company said in a statement. Analysts had estimated 67 cents, on average. Revenue advanced 13 percent to $3.75 billion, compared with a $3.59 billion projection from analysts.


Demand for autos has risen with an improving job market, more housing starts and low interest rates. That drove the annualized pace for new light-vehicles sales, adjusted for seasonal trends, to 16.8 million last month, the fastest rate since February 2007, according to Autodata Corp. CarMax said comparable-store sales rose 3.4 percent, with used-vehicle revenues advancing 13 percent and new-model revenue jumping 33 percent. CarMax operates 136 used-car superstores in 68 markets.


CarMax’s financing unit saw income rise 8.7 percent to $94.6 million during the period, as the company continues testing a subprime loan program. Some $20.5 million, or 0.8 percent of retail unit sales, were originated through that program during the period, according to the statement.

More Industry

F&Iby Lauren LawrenceFebruary 25, 2026

Report Finds Year-End F&I Strength

Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.

Read More →
Industryby Lauren LawrenceFebruary 24, 2026

China Leads Battery Production

Between 2020 and 2025, gigafactory capacity grew six-fold and is set to grow another 118% by 2030, according Benchmark data.

Read More →
Industryby Hannah MitchellFebruary 24, 2026

Overall Consumer Confidence Up

Americans’ view of present business conditions, the labor market and family finances, though, are still in the dumps, and if they plan to buy cars, many target used units.

Read More →
Ad Loading...
Auto Financeby Lauren LawrenceFebruary 23, 2026

Auto Loan Forecast Bucks Market Trend

Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.

Read More →
F&Iby Hannah MitchellFebruary 23, 2026

Some Auto Brands Cheaper to Insure

A new top 10 list ranks the least expensive for average full insurance coverage on a clean driving record and high driver credit scores.

Read More →
Industryby StaffFebruary 20, 2026

Learn to Manage the Mayhem at Agent Summit

Rob Mancuso – president of Mancuso Automotive – will present a Keynote at the 2026 event.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 19, 2026

Affordability Leads Top-Rated List

Edmunds’ editorial team tested 300-plus vehicles to help determine the Top Rated Awards for 2026, and one brand stood out with multiple rankings, including Best of the Best.

Read More →
Salesby Hannah MitchellFebruary 19, 2026

Auto Sales Still Sluggish

February forecast has new-vehicle deliveries still off from last year at this time amid high prices and vanished EV incentives. But J.D. Power sees business picking up from here as automakers target growth.

Read More →
Industryby Hannah MitchellFebruary 18, 2026

EVs Bring Most Satisfaction to Date

Study finds that adopters are true believers and that their satisfaction with the vehicles is growing, including for public charger experience, despite pullback of federal incentives.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 17, 2026

Auto Manufacturing Drives Economic Growth

The sector generates over $64 billion in annual economic impact in South Carolina, making it the largest and fastest-growing manufacturing subsector in the state.

Read More →