— 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.
— 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
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— 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