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Carmax Inc  (KMX)
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    Sector  Retail    Industry Automotive Aftermarket
 
 

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Carmax Inc announced second quarter 2017 operating income of $198.943 millions



Sales for the second quarter 2017 increased by 9.74 % to $4.39 billions in comparison to $4.00 billions in the prior year quarter, income increased by 16.67 % to $0.98, as comparison at $0.84 in the prior year quarter.

Compare to previous quarter profits fell by -13.27 % from $1.13 per share and Sales decreased by -3.43 % from $4.54 billions.
Carmax Inc told that it's good performance came from several different businesses, Used vehicle +7.88%, Wholesale vehicle +11.6%, Service department +15.03%, while following sections logged decrease in revenues New vehicle -13.45%, Thirdparty finance 14.96%.
Net earnings increase of 11.74 % in the second quarter 2017 was supported by expanding profits in Used vehicle and Wholesale vehicle businesses, 8.8% and 18.2% respectively, while profits recoiled in New vehicle segment. Producing overall net income of $181 millions for the second quarter 2017, compare to income of $162 millions achieved a year before. Carmax Inc also emphasized it's improving profit margins, where net margin rose to 4.14% in second quarter 2017, and operating margin edged up to 4.54%.

Continuing with Carmax Inc's second quarter 2017 report, company pointed out increase in: Wholesale vehicles (Average selling price $) 5,336.00 up 1.66 %.
Explaining results, Automotive Aftermarket company told, that it saw rise in: Used vehicle unit sales 156,516.00 gain by 9.2 %, Wholesale vehicle unit sales 106,522.00 gain by 8.71 %, Total vehicle unit sales 265,286.00 gain by 8.77 %.
The Automotive Aftermarket company, also marked largest decline in Wholesale vehicles (Gross profit per Unit $) and further contraction in New vehicle unit sales.

Carmax Inc is expected to report next financial results on December 18, 2017.
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