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May 31, 2022
CarMax Q1 2023 Earnings Report
CarMax's financial performance declined due to macroeconomic factors and strategic investments.
Key Takeaways
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.
Net revenues increased by 21.0% year-over-year to $9.3 billion.
Combined retail and wholesale unit sales decreased by 5.5% compared to the prior year.
Retail used unit sales decreased by 11.0%, with a comparable store sales decline of 12.7%.
Net earnings per diluted share decreased to $1.56, down from $2.63 in the previous year.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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