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CarMax (KMX) Reports Q1 Earnings: What Key Metrics Have to Say
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CarMax (KMX - Free Report) reported $7.11 billion in revenue for the quarter ended May 2024, representing a year-over-year decline of 7.5%. EPS of $0.97 for the same period compares to $1.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.2 billion, representing a surprise of -1.14%. The company delivered an EPS surprise of -2.02%, with the consensus EPS estimate being $0.99.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CarMax performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable Store Used Vehicles Sales - YoY change: -6.1% compared to the -2.4% average estimate based on six analysts.
Revenue per vehicle retailed (ASP) - Used vehicles: $26.53 thousand versus $26.35 thousand estimated by six analysts on average.
Number of stores - Total: 245 versus 246 estimated by six analysts on average.
Unit sales - Wholesale vehicles: 147,685 versus the five-analyst average estimate of 161,029.
Revenue per vehicle retailed (ASP) - Wholesale vehicles: $8.09 thousand versus $8.38 thousand estimated by five analysts on average.
Net sales- Wholesale vehicles: $1.26 billion versus $1.35 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -17% change.
Net sales- Other: $179.50 million versus $172.12 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
Net sales- Used vehicles: $5.68 billion versus $5.76 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
Other sales and revenues- Third-party finance fees, net: -$1.70 million versus the five-analyst average estimate of -$1.54 million. The reported number represents a year-over-year change of -666.7%.
Other sales and revenues- Extended protection plan revenues: $118.80 million versus the five-analyst average estimate of $110.37 million. The reported number represents a year-over-year change of +6.8%.
Other sales and revenues- Other: $27.70 million versus $27.83 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +346.8% change.
Other sales and revenues- Advertising & subscription revenues: $34.70 million compared to the $34.05 million average estimate based on four analysts. The reported number represents a change of +10.5% year over year.
Shares of CarMax have returned +3.5% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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CarMax (KMX) Reports Q1 Earnings: What Key Metrics Have to Say
CarMax (KMX - Free Report) reported $7.11 billion in revenue for the quarter ended May 2024, representing a year-over-year decline of 7.5%. EPS of $0.97 for the same period compares to $1.16 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $7.2 billion, representing a surprise of -1.14%. The company delivered an EPS surprise of -2.02%, with the consensus EPS estimate being $0.99.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CarMax performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Comparable Store Used Vehicles Sales - YoY change: -6.1% compared to the -2.4% average estimate based on six analysts.
- Revenue per vehicle retailed (ASP) - Used vehicles: $26.53 thousand versus $26.35 thousand estimated by six analysts on average.
- Number of stores - Total: 245 versus 246 estimated by six analysts on average.
- Unit sales - Wholesale vehicles: 147,685 versus the five-analyst average estimate of 161,029.
- Revenue per vehicle retailed (ASP) - Wholesale vehicles: $8.09 thousand versus $8.38 thousand estimated by five analysts on average.
- Net sales- Wholesale vehicles: $1.26 billion versus $1.35 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -17% change.
- Net sales- Other: $179.50 million versus $172.12 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
- Net sales- Used vehicles: $5.68 billion versus $5.76 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -5.4% change.
- Other sales and revenues- Third-party finance fees, net: -$1.70 million versus the five-analyst average estimate of -$1.54 million. The reported number represents a year-over-year change of -666.7%.
- Other sales and revenues- Extended protection plan revenues: $118.80 million versus the five-analyst average estimate of $110.37 million. The reported number represents a year-over-year change of +6.8%.
- Other sales and revenues- Other: $27.70 million versus $27.83 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +346.8% change.
- Other sales and revenues- Advertising & subscription revenues: $34.70 million compared to the $34.05 million average estimate based on four analysts. The reported number represents a change of +10.5% year over year.
View all Key Company Metrics for CarMax here>>>Shares of CarMax have returned +3.5% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.