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Dec. 19, 2014, 9:11 AM
Dec. 19, 2014, 8:04 AM
- CarMax (NYSE:KMX) reports used unit sales in comparable stores increased 7.4% in Q3.
- Wholesales vehicle unit sales improved 10.0% as increased appraisal traffic and the growth of the company's store base.
- Average selling prices: Used vehicles +2.3% to $19,914, New vehicles -1.4% to $27,056, Wholesale vehicles flat at $5,124.
- Gross profit per used vehicle +15.2% to $2,172.
- Gross profit per new vehicle +14.8% to $927
- FY2015 Guidance: Capital expenditure: ~$300M.
- KMX +6.39% premarket.
Dec. 19, 2014, 7:37 AM
- CarMax (NYSE:KMX): Q3 EPS of $0.60 beats by $0.06.
- Revenue of $3.41B (+16.0% Y/Y) beats by $150M.
Dec. 18, 2014, 5:30 PM
Nov. 17, 2014, 7:47 AM
Oct. 23, 2014, 10:14 AM
- CarMax (KMX +6.6%) trades higher after the company approved a $2B increase in its share repurchase program.
- The total allowance for buybacks is now $3.8B, with $893M already burnt by the automobile retailer.
Oct. 10, 2014, 5:36 PM
Oct. 2, 2014, 9:40 AM
- There's more than passing interest in the auto retailer/dealership group over Warren Buffett's acquisition of Van Tuyl Group.
- Analysts have already tapped the sector as ripe for M&A opportunities before Buffett skipped into the fray.
- AutoNation (AN +2.2%), CarMax (KMX +1.5%), Sonic Automotive (SAH +3.5%), Lithia Motors (LAD +7.1%), Penske Automotive (PAG +3.4%), Group 1 Automotive (GPI +3.5%), Asbury Automotive (ABG +5.5%), Rush Enterprises (RUSHA) are all higher in early action.
- Related: Strong comps at AutoNation.
Sep. 23, 2014, 12:45 PM
Sep. 23, 2014, 9:10 AM
Sep. 23, 2014, 7:46 AM
- CarMax (NYSE:KMX): Q2 EPS of $0.70 beats by $0.03.
- Revenue of $3.6B (+10.8% Y/Y) beats by $30M.
Sep. 23, 2014, 7:45 AM
- CarMax (NYSE:KMX) reports used unit sales in comparable stores increased 0.2% in FQ2.
- A calendar shift impacted the comp by a full percentage point.
- Wholesales vehicle unit sales improved 7.4% during the period.
- Average selling prices: Used vehicles +4.1% to $20,215, New vehicles -1.2% to $26,991, Wholesale vehicles +4.1% to $5,249.
- Gross profit per used vehicle flat at $2,173.
- Gross profir per new vehicle +45% to $803.
- KMX -4.7% premarket
Sep. 22, 2014, 5:30 PM
Sep. 18, 2014, 3:16 AM
- The Consumer Financial Protection Bureau has put forward a plan to begin supervising the finance units of major car companies, overseeing the 38 largest nonbank lenders in the automotive industry.
- Under the plan, the regulator will scrutinize whether nonbank car-loan providers are discriminating against minorities, using deceptive tactics in marketing loans and following debt-collection laws.
- The new plan would put the finance divisions of major automakers under federal supervision for the first time.
- Related tickers: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, KMX
Aug. 18, 2014, 2:47 AM
- Russia may impose restrictions or a ban on vehicle imports from Western countries, if the U.S. and EU impose additional sanctions on Moscow, Reuters reports quoting the Vedomosti.
- The paper says that the proposals have already been sent to Putin for consideration but no decision has been made yet.
- The new ban, however, would not apply to foreign automakers' production inside Russia. Ford (NYSE:F), Volkswagen (OTCQX:VLKAY), Renault (OTC:RNSDF), Toyota (NYSE:TM) and Hyundai (OTC:HYMLF) all have production facilities inside the country.
- Related stocks: AN, KMX, CRMT, GM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTCPK:BAMXY, OTCPK:MMTOF, OTC:PEUGF, TTM, OTCPK:FUJHY.
Aug. 18, 2014, 2:25 AM
- Sonic Automotive (NYSE:SAH) will today announce its creation of EchoPark, a chain of preowned-vehicle stores that will challenge used-car retailers such as CarMax (NYSE:KMX) and Asbury Automotive (NYSE:ABG).
- EchoPark is part of Sonic's $350M investment to revamp its approach to selling cars, amid increasing U.S. demand for preowned vehicles.
- As one of the country's largest car-dealer's, Sonic posted $8.8B of sales in 2013.
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