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• CarMax declined 7.2% to $73.65 after the used car retailer reported weaker-than-expected quarterly results. 
  
  Revenue in the fiscal fourth quarter ending in February declined 1.7% to $5.6 billion from $5.7 billion, net income dropped to $50.3 million from $69.0 million, and diluted earnings per share decreased to 32 cents from 44 cents a year ago. 
  
  Retail unit sales in the quarter increased 1.3% to 172,057 units from 169,884 units, and wholesale vehicle sales decreased 4% to 115,546 from 120,330. 
  
  The average sale price of a used vehicle decr More
  
  Apr 11, 2024
• CarMax declined 7.2% to $73.65 after the used car retailer reported weaker-than-expected quarterly results. 
  
  Revenue in the fiscal fourth quarter ending in February declined 1.7% to $5.6 billion from $5.7 billion, net income dropped to $50.3 million from $69.0 million, and diluted earnings per share decreased to 32 cents from 44 cents a year ago. 
  
  Retail unit sales in the quarter increased 1.3% to 172,057 units from 169,884 units, and wholesale vehicle sales decreased 4% to 115,546 from 120,330. 
  
  The average sale price of a used vehicle decreased 2.3% to $25,985 and that of a that of a wholesale vehicle fell 3.2% to $8,034 from $8,297 a year ago, respectively. 
  
  The company pushed back its long-term goal of selling 2 million vehicles in a year to between fiscal years 2026 and 2030, citing macroeconomic uncertainties. 
  
  The company repurchased 685,600 shares for $49.3 million at the end of the fiscal fourth quarter, and as of February 29, had $2.36 billion available for repurchase under the outstanding authorization. 
  
  In fiscal year 2025, the company intends to "modestly accelerate the pace of share repurchases," above the pace that was implemented in the third quarter of fiscal year 2024.  Less
  
  Apr 11, 2024


• CarMax jumped 8.5% to $80.98 after the used car retailer reported better-than-expected quarterly results.
  
  Revenue in the fiscal third quarter ending in November declined 5.5% to $6.1 billion, net earnings advanced to $82 million from $37.6 million, and diluted earnings per share rose to 52 cents from 24 cents a year ago.
  
  Total retail used vehicle unit sales declined 2.9% to 174,766 and comparable store used unit sales declined 4.1% from the prior year’s third quarter, respectively.
  
  Higher car prices and elevated interest rates continue to make vehicle af More
  
  Dec 21, 2023
• CarMax jumped 8.5% to $80.98 after the used car retailer reported better-than-expected quarterly results.
  
  Revenue in the fiscal third quarter ending in November declined 5.5% to $6.1 billion, net earnings advanced to $82 million from $37.6 million, and diluted earnings per share rose to 52 cents from 24 cents a year ago.
  
  Total retail used vehicle unit sales declined 2.9% to 174,766 and comparable store used unit sales declined 4.1% from the prior year’s third quarter, respectively.
  
  Higher car prices and elevated interest rates continue to make vehicle affordability challenging.
  
  Total retail used vehicle revenues decreased 7.2% compared with the prior year’s third quarter, driven by the decrease in average retail selling price, which declined approximately $1,300 per unit, or 4.6%, as well as the decrease in retail used units sold.
  
  The company repurchased 648,500 shares of common stock for $41.9 million in the quarter, and as of the end of November, about $2.41 billion were available for stock repurchase under the stock repurchase authorization. Less
  
  Dec 21, 2023

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