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CarMax fiscal Q1 profit climbs 19.6% YOY

CarMax Inc. said its normalized net income for the fiscal first quarter ended May 31 came to $1.13 per share, compared with the S&P Capital IQ consensus estimate of 99 cents per share.

EPS climbed 25.0% year over year from 90 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $211.3 million, an increase of 19.6% from $176.7 million in the prior-year period.

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

Total revenue rose 10.2% on an annual basis to $4.75 billion from $4.31 billion, and total operating expenses rose 9.4% from the prior-year period to $4.39 billion from $4.02 billion.

Reported net income rose 20.2% on an annual basis to $211.2 million, or $1.13 per share, from $175.7 million, or 90 cents per share.