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Carmax Inc  (KMX)
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    Sector  Retail    Industry Automotive Aftermarket
 
 

EARNINGS REPORT by CSIMarket

Wholesale vehicle sales top the list


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Carmax Inc announced third quarter 2017 operating profit of $139.516 millions



In the third quarter 2017 Carmax Inc had Sales of $4.11 billions and earnings per share of $0.81. Sales were up by 10.95 % year on year and eps grew by 12.5 %.

From second quarter 2017, profits fell by -17.35 % from $0.98 per share and Sales decreased by -6.37 % from $4.39 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 8.92 % in the third 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 $149 millions for the third quarter 2017, compare to income of $137 millions achieved a year before. Carmax Inc shifted it's focus on improving sales in the third quarter 2017, as a result net margin eased to 3.62%.

Continuing with Carmax Inc's third 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 March 20, 2018.
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