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Aug 31, 2021
CarMax Q2 2022 Earnings Report
CarMax's financial results for the second quarter of fiscal year 2022 were reported, showing record net revenues and increased unit sales.
Key Takeaways
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.
Net revenues reached a record $8.0 billion, up 48.7% year-over-year.
Combined retail and wholesale used vehicle unit sales increased 19.9% to 419,895 units.
Online retail sales accounted for 9% of retail unit sales, compared to 3% in the prior year.
CarMax Auto Finance (CAF) income increased 35.9% to $200.0 million.
CarMax
CarMax
CarMax Revenue by Segment
Revenue by Segment
Used Vehicles Revenue
CapyFin.comWholesale Vehicles Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
CarMax is focused on growth and innovation, aiming to provide a fully self-service online experience to all retail consumers by the end of the fiscal year.
Positive Outlook
- Continue to make investments in growth and innovation for our customers’ benefit
- Remain on track to bring our fully self-service online experience to all of our retail consumers by the end of the fiscal year
- Built our omni-channel platform to give every customer the ability to progress to a sale or buy regardless of how they shop with us
- Enable sustainable growth
- Create meaningful long-term shareholder value
Challenges Ahead
- The effect and consequences of the Coronavirus public health crisis on matters including U.S. and local economies
- Changes in general or regional U.S. economic conditions.
- Changes in the availability or cost of capital and working capital financing, including changes related to the asset-backed securitization market.
- Changes in the competitive landscape and/or our failure to successfully adjust to such changes.
- Events that damage our reputation or harm the perception of the quality of our brand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income