Q1 sales 7.110 bln usd vs 7.687 bln (Il Sole 24 Ore Radiocor) - New York, 21 Jun - Used-car retailer CarMax said its net profit in the first quarter of its fiscal 2025 year was 152.4 million dollars, or 0.97 dollars per share, compared to 228.3 million, or 1.44 per share, in the same period a year ago.

Analysts were expecting EPS of 0.94 dollars.

Its sales in the three months, ended May 31, were 7.110 billion dollars compared to 7.687 billion a year ago. Analyst expectations were for 7.210 billion dollars.

Second-hand car dealers have seen margins impacted by the greater availability of new vehicles since the end of the health pandemic.

"Though average retail selling price declined year-over-year, we believe vehicle affordability challenges continued to impact our first quarter unit sales performance, with ongoing headwinds due to widespread inflationary pressures, higher interest rates, and tightened lending standards," the company said.

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(RADIOCOR) 21-06-24 14:50:18 (0417) 5 NNNN