Carmax

Q3 Results Q/Q Comparison:

  • Revenue increased 4.4% to $3.7B
  • GAAP Diluted EPS increased 14.3% to $0.72
  • GAAP Net Earnings increased 6.6% to $136.6M

Business Segments:

  • Used Vehicles
    • Used unit sales increased 9.1% (Comparable store used unit sales increased 5.4%)
    • Used vehicle gross profit per unit was flat at $2,155
  • Wholesale Vehicles
    • Wholesale vehicle unit sales declined 2.2%
    • Wholesale vehicle gross profit per unit decreased 5.2% to $900
  • CarMax Auto Finance
    • Income declined 3.2% to $89.4M
    • Interest margin declined to 5.8% from 6.0%
    • Averaged managed receivables increased 11% to $10.3B
    • Allowance for loan losses of 1.1% (up from 0.97% prior year quarter)

Other Information:

  • In Q3, opened 6 new stores
  • Plans to open 15 new stores in FY2017 and 13 to 16 in FY2018
  • Repurchased 3.8M shares for $199M (average price of $52.37)

Stock Price: $66
Market Capitalization: $12.5 billion

December 20, 2016

 

 

 


 


 

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