Why CarMax Stock Is Revving Up Today

CarMax Inc (NYSE: KMX) is trading higher Friday morning after the company announced better-than-expected financial results.

What Happened: CarMax reported quarterly earnings of $2.63 per share, which beat the estimate of $1.63 per share. The company reported quarterly revenue of $7.7 billion, which beat the estimate of $6.24 billion.

“Our strong performance, which included record net revenues and profitability, reflects the strength of our omni-channel experience and diversified business model across retail, wholesale and CAF," said Bill Nash, president and CEO of CarMax.

CarMax sells, finances and services used and new cars with a “no-haggle” policy.

Price Action: CarMax has traded as high as $138.66 and as low as $84.70 over a 52-week period. It is up 26.43% year-to-date. 

At last check Friday, the stock was up 5.42% in premarket trading at $125.90.

Photo: courtesy of CarMax.