Auto lender CarMax Inc. revised its third quarter earnings estimates Tuesday morning, due to the stronger-than-expected performance of its outstanding securitizations. Revised earnings per share expectations to 17 cents or 18 cents, which includes a favorable adjustment in the valuation of its retained interests in securitized receivables of approximately 1 cent per share. "The net loss rates on our more recent securitizations have been trending consistently lower than we assumed," said Austin Ligon, president and chief executive officer of CarMax. This adjustment will contribute approximately one cent to third quarter EPS."
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