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Aug 31, 2022
CarMax Q2 2023 Earnings Report
CarMax reported a decrease in net earnings per diluted share and a slight increase in net revenues for Q2 2023.
Key Takeaways
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.
Net revenues increased by 2.0% to $8.1 billion, while combined retail and wholesale used vehicle unit sales decreased by 10.3%.
Total retail used units sold decreased by 6.4%, with comparable store used unit sales down by 8.3%.
Wholesale vehicle unit sales decreased by 15.1%, impacted by retail selectivity and market depreciation.
Net earnings per diluted share decreased to $0.79, down from $1.72 in the prior year.
Revenue by Segment
Forward Guidance
CarMax did not provide specific forward guidance in this earnings report. However, they plan to release results for the third quarter ending November 30, 2022, on Thursday, December 22, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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