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CarMax fiscal Q2 profit climbs 10.9% YOY

CarMax Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to 98 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS rose 16.2% year over year from 84 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $181.4 million, a gain of 10.9% from $163.6 million in the prior-year period.

The normalized profit margin climbed to 3.9% from 3.9% in the year-earlier period.

Total revenue grew 9.9% year over year to $4.60 billion from $4.19 billion, and total operating expenses increased 9.7% on an annual basis to $4.29 billion from $3.91 billion.

Reported net income increased 11.3% on an annual basis to $181.0 million, or 98 cents per share, from $162.6 million, or 84 cents per share.