secwatch.observer — SEC 8-K summary
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Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0001170010-23-000062
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarMax Q1 net sales fall 17.4% to $7.7B; diluted EPS $1.44 (incl $0.28 legal benefit)
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- Net revenues $7.7B, down 17.4% YoY; retail used unit sales down 9.6%, comparable store down 11.4%.
- Net earnings per diluted share $1.44, down from $1.56; includes $0.28 benefit from legal settlement.
- CarMax Auto Finance income fell 32.8% to $137.4M on net interest margin compression and higher loan loss provision.
- SG&A decreased 14.8% to $559.8M; excluding $59.3M legal settlement, SG&A down 5.7%.
- Bought 343,000 vehicles (down 5.2% YoY); no share repurchases in Q1, $2.45B remaining authorization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001023000062/0001170010-23-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001023000062/kmx-20230623.htm
  HTML page:      https://secwatch.observer/filing/0001170010-23-000062

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