secwatch.observer — SEC 8-K summary
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Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2023-04-11T23:59:59+00:00
Accession:  0001170010-23-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarMax Q4 net earnings down 57% to $0.44 EPS; revenue falls 25.6% to $5.7B
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- Q4 net earnings $69M ($0.44 diluted EPS) vs $159.8M ($0.98) a year ago; FY23 EPS $3.03, down 56.5%.
- Revenue $5.7B, down 25.6% YoY; retail used units sold 169,884 (-12.6%), comparable store sales -14.1%.
- CAF income fell 36.1% to $123.9M on net interest margin compression and $98M provision for loan losses.
- Total gross profit $611M, down 14.1%; SG&A reduced 7.7% to $572.8M through cost management.
- No share repurchases in Q4; capacity remains $2.45B; FY24 capex planned at ~$450M with 5 new stores.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001023000008/0001170010-23-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001023000008/kmx-20230411.htm
  HTML page:      https://secwatch.observer/filing/0001170010-23-000008

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