CarMax positive post FQ4 results

|About: CarMax Group (KMX)|By:, SA News Editor

CarMax (NYSE:KMX) reports used vehicles unit sales rose 13.4% to 176,017, and +8.7% on a comparable-store basis in FQ4.

Used vehicle sales expanded 11.7% to $3.45B.

Total wholesale vehicle unit sales decreased 1.2% to 91,143 and total sales slipped 7.9% to $465.9M.

CarMax Auto Finance income down 10.2% to $82.9M.

Average selling prices: Used vehicles: $19,435 (-1.6%), Wholesale vehicles: $4,910 (-6.8%).

Gross margin rate improved 70 bps to 13.9%.

Gross profit per used vehicle up 14.7% to $2,134.

Gross profit per wholesale vehicle -7.8% to $938.

FY2018 Guidance: Capital expenditure: ~$325M; New stores: 15.

KMX +2.01% premarket.