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CarMax fiscal Q1 profit falls YOY

CarMax Inc. said its normalized net income for the fiscal first quarter ended May 31 came to 90 cents per share, compared with the S&P Capital IQ consensus estimate of 92 cents per share.

EPS increased year over year from 87 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $176.7 million, a decline from $185.0 million in the prior-year period.

The normalized profit margin dropped to 4.1% from 4.4% in the year-earlier period.

Total revenue climbed year over year to $4.31 billion from $4.18 billion, and total operating expenses increased year over year to $4.02 billion from $3.88 billion.

Reported net income declined on an annual basis to $175.7 million, or 90 cents per share, from $182.0 million, or 86 cents per share.