$KMX (CarMax Inc.)

$KMX {{ '2016-06-21T14:06:42+0000' | timeago}} • Webcast

$KMX, which competes with $AN & $PAG, said that SG&A expense for 1Q17 rose 8.7% to $380MM . This growth mainly reflects 11% or 16 store increase in the store base since the beginning of 1Q16 & $7MM increase or $36 per unit in share based compensation expense. Another $3MM cost increase was related to hail damage incurred in several Texas markets.

$KMX {{ '2017-06-21T14:16:45+0000' | timeago}} • Webcast

$KMX's store traffic was flat in 1Q18 and its website traffic increased 9% compared to the prior year quarter. CarMax added that it continues to work on the website and focuses on search engine optimization, while adding new pages of relevant data in their website.

$KMX {{ '2017-06-21T13:56:03+0000' | timeago}} • Webcast

$KMX said that 0 to 4 year old vehicle penetration increased year-over-year in 1Q18. The percent of sales of large and medium SUVs and trucks was 27%, similar to 4Q17 and was about 3 percentage points higher than last year. The company added that it is going to sell what customers are interested in buying.

$KMX {{ '2017-06-21T13:28:37+0000' | timeago}} • Webcast

Auto retailer $KMX said that it got benefited in 1Q18 from the delay in the tax refund season. During 2Q18, CarMax plans to open three stores, which includes the one opened in early June.

$KMX {{ '2017-06-21T13:01:45+0000' | timeago}} • Infographic

$KMX CarMax Earnings AlphaGraphics: Q1 2018 Highlights

$KMX {{ '2017-06-21T12:04:54+0000' | timeago}} • Announcement

During 1Q18, $KMX opened three stores, including two stores in Seattle, Washington, a new television market, and one store in Pensacola, Florida. Total wholesale unit sales were flat versus the prior year’s first quarter. CarMax Auto Finance (CAF) income increased 8.5% to $109.4MM.

$KMX {{ '2017-06-21T12:03:38+0000' | timeago}} • Announcement

With net earnings soaring 20.7% to $211.7MM and diluted EPS jumping 25.6% to $1.13, $KMX posted a 10.1% rise in net sales and operating revenues of $4.54Bil for 1Q18. Used unit sales in comparable stores increased 8.2%, while total used unit sales improved 14.1%.

$KMX {{ '2017-04-24T21:02:05+0000' | timeago}} • Announcement

$KMX has elected Sona Chawla to its board of directors. She will serve on the Audit Committee. Ms. Chawla is the Chief Operating Officer of Kohl’s.

$KMX {{ '2017-04-11T16:27:58+0000' | timeago}} • Announcement

$KMX promoted its VP Diane Long Cafritz to the newly created post of chief human resources officer.

$KMX {{ '2017-04-06T14:22:15+0000' | timeago}} • Webcast

$KMX said that there was a headwind from Tier 3 partners' sales in 4Q17, which got impacted by a delay in tax refunds. Tier 2 partners compensated a small portion of the decline in Tier 3 sales. The company added that it's hard to quantify the impact of the tax refunds.

$KMX {{ '2017-04-06T13:33:24+0000' | timeago}} • Webcast

$KMX reported that gross profit for wholesale unit decreased to $938 in 4Q17 compared to $1005 in last year's fourth quarter. This was due to the delay in tax refunds, the decrease in 7 to 9 year old vehicles, and tough comparison from last year's fourth quarter.

$KMX {{ '2017-04-06T13:11:16+0000' | timeago}} • Infographic

$KMX CarMax Earnings AlphaGraphics: Q4 2017 Highlights

$KMX {{ '2017-04-06T12:27:46+0000' | timeago}} • Announcement

$KMX plans to open 15 stores in FY18 and 13-16 stores in FY19. Capex is estimated at about $325MM in FY18. Compared with FY17, the decrease in planned capital spending reflects reduced spending on construction and land acquisitions resulting from changes in the mix of markets in which the stores are being built.

$KMX {{ '2017-04-06T12:23:08+0000' | timeago}} • Announcement

During 4Q17, $KMX repurchased 1.5MM shares of common stock for $101.1MM as part of share repurchase program. For FY17, CarMax repurchased 10.3MM shares for $557.7MM. As of February 28, 2017, $KMX had $1.59Bil remaining available for repurchase under the program.

$KMX {{ '2017-04-06T12:18:35+0000' | timeago}} • Announcement

During 4Q17, $KMX opened four stores, including two stores in new markets (Mobile, Alabama, and Albany, New York) and two stores in Los Angeles, California. In total, $KMX opened 15 stores during FY17, bringing its used car store count to 173 as of February 28, 2017.

$KMX {{ '2017-04-06T12:14:50+0000' | timeago}} • Announcement

$KMX's used vehicle unit sales grew 13.4% to $3.4Bil and comparable store sales rose 8.7% in 4Q17, YoY. A 1.2% decline in Wholesale vehicle unit sales at $466MM was offset by a 19.2% growth in Other Sales and Revenues, which stood at $133.8MM. Meanwhile, CarMax Auto Finance income declined 10.2% to $82.9MM.

$KMX {{ '2017-04-06T12:04:05+0000' | timeago}} • Announcement

As more people opted for used vehicles, $KMX's Net sales and operating revenues increased 9.3% to $4.05Bil in 4Q17. Net earnings rose to $152.6MM, or $0.81 per share, compared to $141MM, or $0.71 per share in the same quarter last year.

$KMX {{ '2016-12-20T15:15:34+0000' | timeago}} • Webcast

$KMX said its large SUV mix for 3Q17 was up YoverY. It was about 25.7% versus 23.3% in 3Q16, which was about 250BP. It was up 1BP from 2Q17. The company had a shift in some of the older vehicles along with lower acquisition prices which brought down the average selling prices.

$KMX {{ '2016-12-20T14:42:09+0000' | timeago}} • Webcast

$KMX said search engine optimization is a big focus for the company. $KMX has been working on the design of the website to make sure search engines get the information in a time sensitive fashion and produce relevant data. $KMX has been publishing content as per customer preferences and believes there is lot of opportunity in this area.

$KMX {{ '2016-12-20T14:30:35+0000' | timeago}} • Webcast

During 3Q17, $KMX repurchased 3.8MM shares for $199MM. As of the end of 3Q17, the company had $1.7Bil remaining in its stock repurchase authorization.  $KMX has been testing a new online financing capability that helped customers get pre-qualified for a loan. Towards the end of 3Q17, $KMX rolled this capability to all stores nationwide.

$KMX {{ '2016-12-20T14:22:32+0000' | timeago}} • Webcast

$KMX's net loans originated in 3Q17 rose more than 9% YoverY to $1.3Bil due to a combination of sales growth and higher penetration, partially offset by lower average selling prices. Tier 2 penetration fell YoverY to 15.7%. Tier 3 sales mix was 10.2% of used unit sales compared to 13.8% for 3Q16.

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