secwatch.observer — SEC 8-K summary
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Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2024-04-11T23:59:59+00:00
Accession:  0001170010-24-000014
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarMax Q4 net revenues $5.6B (-1.7%); EPS $0.32 (-27%); retail used units +1.3%
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- Net earnings per diluted share $0.32 vs $0.44 in prior year; prior year benefited from $0.08 EPP profit sharing and lower tax rate.
- Total gross profit $586.2M (-4.1%); retail GP per used unit $2,251, wholesale GP per unit $1,120.
- CAF income $147.3M, +18.9% YoY; CAF financed 42.3% of retail units at 11.5% weighted avg rate.
- Long-term unit target >2M now expected between FY2026-FY2030, extended due to market recovery uncertainty.
- FY2025 capex plan $500-550M; intends to modestly accelerate share repurchases in FY2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001024000014/0001170010-24-000014-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001024000014/kmx-20240411.htm
  HTML page:      https://secwatch.observer/filing/0001170010-24-000014

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