CarMax reports 5.1% sales surge and 13.3% EPS increase in Q2

Full story: https://grafa.com/news/auto-and-cars-carmax-reports-5-1--sales-surge-and-13-3--eps-increase-in-q2-279318

CarMax (NYSE:KMX) has announced its financial results for the second quarter ended August 31, 2024, showcasing robust growth in retail used unit sales and a solid increase in net earnings per share.

The company saw a 5.1% increase in retail used unit sales and a 4.3% rise in comparable store used unit sales compared to the same period last year.

While wholesale units experienced a slight decline of 0.3%, gross profit remained steady at $2,269 per retail used unit and $975 per wholesale unit.

During the quarter, CarMax reported significant consumer engagement, purchasing 300,000 vehicles from consumers and dealers, marking a 2.9% increase from last year’s second quarter.

However, selling, general, and administrative expenses rose to $610.6 million, up 4.2%, influenced by dynamics related to the bonus accrual.

A noteworthy challenge faced by CarMax Auto Finance (CAF) was a 14.4% decrease in income, totalling $115.6 million.

Despite these challenges, CarMax reported a significant increase in net earnings per diluted share, which rose by 13.3% to $0.85, up from $0.75 in the previous year.

The company also continued its shareholder return strategy, repurchasing $106.1 million in shares of common stock.

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class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c856b0d2b3dd29472dd2e3f905a0f274\"></p>\n<p>Full story: <a href=\"https://grafa.com/news/auto-and-cars-carmax-reports-5-1--sales-surge-and-13-3--eps-increase-in-q2-279318?utm_source=ttmfinancial&amp;utm_medium=social&amp;utm_campaign=279318&amp;referralcode=A314DFDBE96C354756A893C6E3E02493\">https://grafa.com/news/auto-and-cars-carmax-reports-5-1--sales-surge-and-13-3--eps-increase-in-q2-279318</a></p>\n<p>CarMax <a href=\"https://grafa.com/asset/carmax-inc-19192-kmx.nyse\">(NYSE:KMX)</a> has announced its financial results for the second quarter ended August 31, 2024, showcasing robust growth in retail used unit sales and a solid increase in net earnings per share.</p> \n<p>The company saw a 5.1% increase in retail used unit sales and a 4.3% rise in comparable store used unit sales compared to the same period last year.</p> \n<p>While wholesale units experienced a slight decline of 0.3%, gross profit remained steady at $2,269 per retail used unit and $975 per wholesale unit.</p> \n<p>During the quarter, CarMax reported significant consumer engagement, purchasing 300,000 vehicles from consumers and dealers, marking a 2.9% increase from last year’s second quarter.</p> \n<p>However, selling, general, and administrative expenses rose to $610.6 million, up 4.2%, influenced by dynamics related to the bonus accrual.</p> \n<p>A noteworthy challenge faced by CarMax Auto Finance (CAF) was a 14.4% decrease in income, totalling $115.6 million.</p> \n<p>Despite these challenges, CarMax reported a significant increase in net earnings per diluted share, which rose by 13.3% to $0.85, up from $0.75 in the previous year.</p> \n<p>The company also continued its shareholder return strategy, repurchasing $106.1 million in shares of common stock.</p></body></html>","htmlText":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c856b0d2b3dd29472dd2e3f905a0f274\"></p>\n<p>Full story: <a href=\"https://grafa.com/news/auto-and-cars-carmax-reports-5-1--sales-surge-and-13-3--eps-increase-in-q2-279318?utm_source=ttmfinancial&amp;utm_medium=social&amp;utm_campaign=279318&amp;referralcode=A314DFDBE96C354756A893C6E3E02493\">https://grafa.com/news/auto-and-cars-carmax-reports-5-1--sales-surge-and-13-3--eps-increase-in-q2-279318</a></p>\n<p>CarMax <a href=\"https://grafa.com/asset/carmax-inc-19192-kmx.nyse\">(NYSE:KMX)</a> has announced its financial results for the second quarter ended August 31, 2024, showcasing robust growth in retail used unit sales and a solid increase in net earnings per share.</p> \n<p>The company saw a 5.1% increase in retail used unit sales and a 4.3% rise in comparable store used unit sales compared to the same period last year.</p> \n<p>While wholesale units experienced a slight decline of 0.3%, gross profit remained steady at $2,269 per retail used unit and $975 per wholesale unit.</p> \n<p>During the quarter, CarMax reported significant consumer engagement, purchasing 300,000 vehicles from consumers and dealers, marking a 2.9% increase from last year’s second quarter.</p> \n<p>However, selling, general, and administrative expenses rose to $610.6 million, up 4.2%, influenced by dynamics related to the bonus accrual.</p> \n<p>A noteworthy challenge faced by CarMax Auto Finance (CAF) was a 14.4% decrease in income, totalling $115.6 million.</p> \n<p>Despite these challenges, CarMax reported a significant increase in net earnings per diluted share, which rose by 13.3% to $0.85, up from $0.75 in the previous year.</p> \n<p>The company also continued its shareholder return strategy, repurchasing $106.1 million in shares of common stock.</p></body></html>","text":"Full story: https://grafa.com/news/auto-and-cars-carmax-reports-5-1--sales-surge-and-13-3--eps-increase-in-q2-279318 CarMax (NYSE:KMX) has announced its financial results for the second quarter ended August 31, 2024, showcasing robust growth in retail used unit sales and a solid increase in net earnings per share. The company saw a 5.1% increase in retail used unit sales and a 4.3% rise in comparable store used unit sales compared to the same period last year. While wholesale units experienced a slight decline of 0.3%, gross profit remained steady at $2,269 per retail used unit and $975 per wholesale unit. During the quarter, CarMax reported significant consumer engagement, purchasing 300,000 vehicles from consumers and dealers, marking a 2.9% increase from last year’s second quarter. However, selling, general, and administrative expenses rose to $610.6 million, up 4.2%, influenced by dynamics related to the bonus accrual. A noteworthy challenge faced by CarMax Auto Finance (CAF) was a 14.4% decrease in income, totalling $115.6 million. Despite these challenges, CarMax reported a significant increase in net earnings per diluted share, which rose by 13.3% to $0.85, up from $0.75 in the previous year. 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