(Boursier.com) — CarMax , the American giant of the distribution of used vehicles, jumped 7% in pre-session on Wall Street after the publication of its accounts. Adjusted earnings per share for the first fiscal quarter reached $1.16, well above the consensus which was only 79 cents. Revenue totaled $7.69 billion, versus a consensus of $7.5 billion. Activity thus fell by 17.4% year-on-year, but exceeded market expectations. “Our deliberate actions are driving improved trends across the business, despite the challenging macro environment (…) We also continued to deliver strong retail and wholesale gross profit per unit as well as overhead reductions and administration,” said Bill Nash, President and CEO. “We are prioritizing projects that drive operational efficiency and create better experiences for our associates and customers. We believe these steps will allow us to emerge from this cycle leaner and more efficient, while positioning us for growth. future”.
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