CarMax Inc Faces Challenges in Fiscal Fourth Quarter of 2024 as Earnings and Revenue Decline

CarMax Inc, a leading automotive retailer in the United States, recently disclosed its financial results for the fourth quarter of 2024.
The company reported a reduction in earnings per share by -27.34% to $0.32 and a decrease in revenue by -1.676% to $5.63 billion, year on year.
Comparing these figures to the previous financial reporting period, income faded from $0.52 per share and revenue deteriorated by -8.489% from $6.15 billion.


In the financial fourth quarter of 2024, CarMax Inc reported earnings of $50.268 million, falling by -27.16% from $69.012 million in the corresponding period a year before.
Despite an increase in stockpiles to $3,678.1 million due to the seasonal nature of the company's business, they remain below the previous year level of $3,726.1 million.
Accounts receivable have also declined to $17,233.0 million from the previous quarter, but this is still higher than during the same time a year ago.

Looking at the sales reports for the fiscal 12 Months 2024, the company reported revenue of $26.54 billion and net earnings of $479.20 million.
CarMax Inc also explained that earnings per share decreased by -0.33% to $3.02 per share from $3.03 in the previous fiscal 12 Months, while revenue deteriorated by -10.61% from $29.68 billion a year prior.

RICHMOND, Va.
CarMax, Inc.
(NYSE:KMX) will report its financial results for the fourth quarter ended February 29, 2024 before the market opens on April 11, 2024, and it will host a conference call with investors at 9:00 a.m.
ET to discuss these results.
Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO, and Jon Daniels, senior vice president, CAF Operations.

Overall, the financial performance of CarMax Inc in the fourth quarter of 2024 showed declines in earnings and revenue compared to the previous year.
The company's management will provide further insights and analysis during the upcoming conference call, giving investors a better understanding of the factors affecting their financial results.

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