CarMax Q3 FY2023 EPS $0.24 (down 85%); revenue $6.5B (-24%); used units -21%; wholesale -37%; pauses buybacks

CARMAX INC

2023-Q3 EPS reported $2.60 revenue$23,962,380,000

Net earnings per diluted share $0.24 vs $1.63 a year ago; net earnings $37.6M, down 86%.
Net revenues $6.5B, down 23.7%; used vehicle units sold 180K (-20.8%), comparable store sales -22.4%.
Wholesale units 118,757, down 36.7%; wholesale GP per unit $966 vs $1,131; bought 238K vehicles (-39.8%).
CAF income $152.2M (-8.3%); provision for loan losses rose to $85.7M from $76.2M; weighted avg contract rate 9.8% up from 8.3%.
Fiscal 2023 capex forecast reduced to ~$450M from $500M; share repurchases paused after $2.6M in Q3.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARMAX INC reported third quarter ended November 30, 2022 results: revenue $6.5 billion, EPS $0.24.

Period: third quarter ended November 30, 2022
Revenue: $6.5 billion
EPS: $0.24
Result: reported results

Exact text from the filing

Net revenues of $6.5 billion, down 23.7% compared with the prior year third quarter.

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CARMAX INC filing history →

Source: SEC EDGAR

accession 0001170010-22-000102

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