— CarMax, Inc. (NYSE: KMX) reported net income of $173.2 million or $1.04 per share for the third quarter of 2020, vs. $1.16 per share expected.

CarMax, Inc. (NYSE: KMX): Q3 2020 Earnings Snapshot

— At $4.79 billion, sales and operating revenues were up 11.5% year-over-year, vs. $4.68 billion expected

— Total used vehicle unit sales increased 11% from last year; average selling price rose 2.2% to $20,710

— Sales of used units in comparable stores grew 7.5%; CarMax Auto Finance income increased 3.9% to $114.0 million

— Total wholesale unit sales moved up 3.3%; average selling price in the segment dropped 2.6% to $5,079

— Omni-channel experience remains on track to be available to most customers by the end of 2020

— Repurchased 1.3 million shares for $114.8 million during the third quarter

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text