CarMax Earnings Reports

CarMax delivered a robust Q4 with net income of $89.9M and EPS of $0.58, up significantly from last year. Revenue reached $6.0B, driven by gains in used vehicle sales and disciplined SG&A cost management.

CarMax reported a strong third quarter with a 5.4% increase in retail used unit sales and a 6.3% increase in wholesale units. Total gross profit increased by 10.6% to $677.6 million, and net earnings per diluted share rose by 55.8% to $0.81. The company also repurchased $114.8 million in shares of common stock.

CarMax reported a 5.1% increase in retail used unit sales and a 4.3% increase in comparable store used unit sales. Net earnings per diluted share increased by 13.3% to $0.85. The company repurchased $106.1 million in shares of common stock.

CarMax reported a decrease in combined retail and wholesale used vehicle unit sales by 5.3%. However, the company delivered strong margins in retail, wholesale, and Extended Protection Plans (EPP). They also accelerated share repurchases, buying back over $100 million in shares.

CarMax reported a slight decrease in net revenues for Q4 2024, with a decline of 1.7% compared to the prior year. Despite a decrease in wholesale unit sales, retail used unit sales increased by 1.3%. The company actively managed SG&A expenses and saw significant growth in CarMax Auto Finance (CAF) income.

CarMax reported a 5.5% decrease in net revenues to $6.1 billion for the third quarter of fiscal year 2024. Despite a decline in retail used unit sales, the company saw growth in wholesale units and a significant increase in other gross profit. Net earnings per diluted share increased to $0.52 from $0.24 in the prior year, and the company resumed share repurchases during the quarter.

CarMax reported a decrease in net revenues by 13.1% to $7.1 billion, alongside declines in retail used unit sales and wholesale units. However, the company maintained strong margins in both retail and wholesale, reduced SG&A expenses by 12.1%, and intends to resume share repurchases in the third quarter.

CarMax reported a decrease in net revenues by 17.4% to $7.7 billion, alongside declines in retail and wholesale unit sales. Despite these challenges, the company maintained strong margins and reduced SG&A expenses, partially offset by a legal settlement benefit. The company also saw sequential improvements in unit performance and prioritized operating efficiencies.

CarMax reported a decrease in net revenues and earnings per share for the fourth quarter of fiscal year 2023. While used vehicle sales declined, the company focused on profitable market share gains and cost management, which contributed to robust margins.

CarMax reported a decrease in net revenues of 23.7% to $6.5 billion and a significant drop in net earnings per diluted share to $0.24, compared to $1.63 in the prior year. The company faced headwinds including vehicle affordability challenges, inflationary pressures, climbing interest rates, and low consumer confidence. CarMax responded by reducing SG&A expenses and managing its capital structure.

CarMax reported a 2.0% increase in net revenues to $8.1 billion, driven by higher average selling prices, but experienced a 6.4% decrease in total retail used units sold and a 15.1% decrease in wholesale units sold. Net earnings per diluted share decreased to $0.79 from $1.72 in the prior year, impacted by macroeconomic factors and increased SG&A expenses.

CarMax reported a decrease in net earnings per diluted share to $1.56, down from $2.63 a year ago, impacted by declining used sales, a swing in the provision for loan losses, and a prior year unrealized gain on investment. While revenue increased by 21.0% to $9.3 billion, unit sales decreased by 5.5%. The company is focused on enhancing its e-commerce platform and integrating online and in-store experiences.

CarMax reported a substantial increase in revenue driven by higher average selling prices in both retail and wholesale segments. However, net earnings per share decreased due to macro factors and increased SG&A expenses related to technology investments and strategic initiatives.

CarMax reported record net revenues of $8.5 billion, up 64.5% compared with the prior year third quarter. Net earnings per diluted share of $1.63, up 14.8% from a then-record $1.42 per diluted share a year ago.

CarMax reported record net revenues of $8.0 billion, a 48.7% increase compared to the prior year. Combined retail and wholesale used vehicle unit sales increased by 19.9%. Net earnings per diluted share decreased to $1.72, down from $1.79 per diluted share a year ago.