secwatch.observer — SEC 8-K summary
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Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2022-12-22T23:59:59+00:00
Accession:  0001170010-22-000102
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001022000102/0001170010-22-000102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001022000102/kmx-20221222.htm
  HTML page:      https://secwatch.observer/filing/0001170010-22-000102

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