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CarMax fiscal Q3 profit climbs 21.7% YOY

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CarMax fiscal Q3 profit climbs 21.7% YOY

CarMax Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to 61 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS rose 27.6% year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $131.8 million, a gain of 21.7% from $108.3 million in the prior-year period.

The normalized profit margin increased to 3.7% from 3.5% in the year-earlier period.

Total revenue climbed 15.5% on an annual basis to $3.56 billion from $3.08 billion, and total operating expenses climbed 15.2% on an annual basis to $3.34 billion from $2.90 billion.

Reported net income grew 21.8% year over year to $130.2 million, or 60 cents per share, from $106.9 million, or 47 cents per share.