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DAILY EARNINGS

Lennar Net Surges 19%, CarMax Net Declines 4%


Author: Mukesh Buch
ticker.com
Last Update: 2:59 AM ET June 21 2016

12:00 PM New York CarMax first-quarter net declined 4% to $175 million. Lennar second-quarter net surged 19% to $219 million and revenues soared 15% to $2.7 billion.

Tollbooth Index rose 11.31 to 10,518.68.

Earnings Review

CarMax, Inc (KMX), the used vehicles retailer said revenues in the first-quarter ending in May grew 2.2% from a year ago to $4.1 billion.

Comparable store used unit sales in the quarter increased 0.2%.

Net income in the quarter declined 3.6% to $175.4 million or 90 cents per diluted share compared to $182 million or 86 cents per share from the same quarter last year.

Lennar Corporation (LEN), the homebuilder reported revenues in the second-quarter ending in May soared 15% from a year ago to $2.7 billion.

Net income in the quarter surged 19.4% to $218.5 million or 95 cents per diluted share compared to $183 million or 79 cents per share from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc