Latest news with #BillNash
Yahoo
29-05-2025
- Automotive
- Yahoo
CarMax Announces First Quarter Conference Call and Annual Meeting Information
RICHMOND, Va., May 29, 2025--(BUSINESS WIRE)--CarMax, Inc. (NYSE:KMX) will report its financial results for the first quarter ended May 31, 2025 before the market opens on June 20, 2025, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, executive vice president, CarMax Auto Finance. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at A replay of the webcast will be available on the company's website at through September 24, 2025 or via telephone (for approximately one week) by dialing (800) 839-1247 (or (402) 220-0470 for international access). June 24, 2025 – CarMax Annual Meeting of Shareholders The CarMax 2025 annual meeting of shareholders will be held on Tuesday, June 24, 2025 beginning at 1:00 p.m. ET. The meeting will be held virtually and there will be no in-person meeting location. A live webcast of the meeting will be available at and a webcast replay will be available following the event. About CarMax CarMax, the nation's largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. During the fiscal year ended February 29, 2025, CarMax sold approximately 790,000 used vehicles and 540,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated more than $8 billion in receivables during fiscal 2025, adding to its nearly $18 billion portfolio. CarMax has 250 store locations, over 30,000 associates, and is proud to have been recognized for 21 consecutive years as one of the Fortune 100 Best Companies to Work For®. CarMax is committed to helping its communities thrive and reducing the environmental footprint of its operations. Learn more in the 2025 Responsibility Report. For more information, visit View source version on Contacts Investors:David Lowensteininvestor_relations@ (804) 747-0422 ext. 7865 Media:pr@ (855) 887-2915 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
29-05-2025
- Automotive
- Business Wire
CarMax Announces First Quarter Conference Call
RICHMOND, Va.--(BUSINESS WIRE)--CarMax, Inc. (NYSE:KMX) will report its financial results for the first quarter ended May 31, 2025 before the market opens on June 20, 2025, and it will host a conference call with investors at 9:00 a.m. ET to discuss these results. Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, executive vice president, CarMax Auto Finance. The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396. A live audio webcast also will be available at A replay of the webcast will be available on the company's website at through September 24, 2025 or via telephone (for approximately one week) by dialing (800) 839-1247 (or (402) 220-0470 for international access). June 24, 2025 – CarMax Annual Meeting of Shareholders The CarMax 2025 annual meeting of shareholders will be held on Tuesday, June 24, 2025 beginning at 1:00 p.m. ET. The meeting will be held virtually and there will be no in-person meeting location. A live webcast of the meeting will be available at and a webcast replay will be available following the event. About CarMax CarMax, the nation's largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. During the fiscal year ended February 29, 2025, CarMax sold approximately 790,000 used vehicles and 540,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated more than $8 billion in receivables during fiscal 2025, adding to its nearly $18 billion portfolio. CarMax has 250 store locations, over 30,000 associates, and is proud to have been recognized for 21 consecutive years as one of the Fortune 100 Best Companies to Work For®. CarMax is committed to helping its communities thrive and reducing the environmental footprint of its operations. Learn more in the 2025 Responsibility Report. For more information, visit
Yahoo
23-04-2025
- Automotive
- Yahoo
KMX Q1 Earnings: CarMax Matches Revenue Expectations, Misses Profit Targets Amid Shifting Market Dynamics
Used automotive vehicle retailer Carmax (NYSE:KMX) met Wall Street's revenue expectations in Q1 CY2025, with sales up 6.7% year on year to $6 billion. Its non-GAAP profit of $0.60 per share was 8.6% below analysts' consensus estimates. Is now the time to buy KMX? Revenue: $6 billion vs analyst estimates of $5.99 billion (6.7% year-on-year growth, in line) Adjusted EPS: $0.60 vs analyst expectations of $0.66 (8.6% miss) Adjusted EBITDA: $234.2 million vs analyst estimates of $228.7 million (3.9% margin, 2.4% beat) Operating Margin: 2.5%, in line with the same quarter last year Free Cash Flow Margin: 0.3%, down from 3.6% in the same quarter last year Locations: 250 at quarter end, up from 245 in the same quarter last year Same-Store Sales rose 5.9% year on year (-2% in the same quarter last year) Market Capitalization: $9.93 billion CarMax's first quarter results reflected steady growth in unit sales and improved operational efficiency, driven by investments in technology and a broader product mix. Management attributed the year-on-year sales increase to enhanced digital capabilities, a more efficient sourcing process from both consumers and dealers, and ongoing cost savings across logistics and reconditioning operations. CEO Bill Nash cited the company's ability to offer a seamless online and in-store experience as a key differentiator in the highly competitive used car market. Looking forward, CarMax's leadership emphasized the potential impact of new tariffs and rising parts costs, which could influence both demand and profitability. They highlighted ongoing efforts to mitigate these risks through cost control and expanded financing offerings, while also noting that macroeconomic uncertainty and shifting consumer preferences continue to shape the company's outlook. Management was cautious in its forward guidance, focusing on sustaining recent momentum and adapting to changing market conditions. CarMax's management provided a comprehensive update on the factors driving the quarter's performance and the company's evolving strategy. They highlighted improvements in unit volumes, digital engagement, and operational efficiencies, while also addressing near-term challenges around profitability and external cost pressures. The discussion underscored CarMax's commitment to balancing growth initiatives with prudent cost management in a volatile economic environment. Digital Sales Integration: CarMax saw a growing proportion of retail transactions supported by digital tools, with 67% of sales classified as 'omni-channel' under the updated definition. Management expects continued growth in digitally assisted sales as online tools and customer adoption improve. Supply Chain and Sourcing: The company achieved record vehicle sourcing from both consumers and dealers, driven by enhancements to its online appraisal platform and dealer-facing solutions. These initiatives are designed to broaden inventory and better meet shifting consumer demand. Financing Model Expansion: CarMax Auto Finance (CAF) expanded its lending across more segments of the credit spectrum. By retaining a greater share of profitable loan originations previously allocated to third parties, management expects to increase CAF's penetration and drive long-term income growth, despite higher near-term provisions for loan losses. Operational Efficiency Gains: The company reported meaningful cost savings in logistics and reconditioning, exceeding initial targets with $125 per unit in annual efficiency improvements. These savings are expected to help offset rising parts costs and support affordability for customers. Market Share and Product Mix: CarMax experienced notable growth in sales of late-model (zero to four-year-old) vehicles, while maintaining its presence in the six- to ten-year-old segment. Management emphasized a flexible approach to inventory mix, based on evolving consumer preferences and market dynamics. Management's outlook for the coming quarters is shaped by ongoing investments in digital capabilities, efficiency initiatives, and expanded financing options, all set against a backdrop of macroeconomic uncertainty and possible cost inflation. No explicit revenue or profit guidance was provided for the next quarter or the full year. Tariffs and Cost Pressures: New tariffs on automotive imports and rising parts prices could increase costs for both new and used vehicles. Management plans to mitigate these impacts through ongoing efficiency gains and pricing strategies, but acknowledged uncertainty around the ultimate effect on demand and margins. Financing Penetration: CarMax's strategy to broaden its credit spectrum and recapture more loan originations is expected to drive future income growth in CarMax Auto Finance, albeit with temporarily higher provisions for loan losses as the mix shifts. Digital Experience Enhancements: Continued investment in online tools and customer-facing technology is aimed at increasing conversion rates, improving the shopping experience, and supporting sales growth, especially as consumer preferences evolve toward more digital interactions. Sharon Zackfia (William Blair): Asked about the drivers behind the company's market share recovery and lessons learned from earlier periods of share loss; management cited improved execution, expanded sourcing, and adaptability to changing consumer preferences. Seth Basham (Wedbush Securities): Inquired about the impact of new car tariffs on used vehicle demand and CarMax's share gains; CEO Bill Nash explained that higher new car prices could drive more consumers to the used market, especially for late-model vehicles. John Murphy (Bank of America): Questioned the sustainability of operational cost savings and the company's ability to maintain margins amid changing reconditioning and supply chain dynamics; management highlighted ongoing efficiency efforts and the benefits of additional reconditioning capacity. Rajat Gupta (JPMorgan): Sought details on how CarMax is managing inventory acquisition amid tariff uncertainty and auction market volatility; management emphasized long-standing expertise in inventory management and reliance on data-driven sourcing. Chris Bottiglieri (BNP Paribas): Asked if CarMax has remaining cost levers to pull in the event of an economic downturn; CFO Enrique Mayor-Mora responded that further efficiency improvements are planned and the company retains the ability to adjust costs as needed. In upcoming quarters, our analysts will watch (1) the company's ability to manage cost inflation and pass along efficiency gains to offset tariff-related headwinds, (2) the pace of growth in digitally supported and omni-channel sales as technology initiatives mature, and (3) continued expansion of CarMax Auto Finance's penetration across the credit spectrum. Execution on these fronts, along with adaptability to macroeconomic and industry shifts, will be critical indicators of CarMax's ability to sustain growth and profitability. Could KMX achieve its goals and exceed our expectations? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Comfort Systems (+751% five-year return). Find your next big winner with StockStory today.
Yahoo
12-04-2025
- Automotive
- Yahoo
Why CarMax Inc. (KMX) Went Down On Thursday?
We recently published a list of . In this article, we are going to take a look at where CarMax Inc. (NYSE:KMX) stands against other stocks that traders heavily sold down on Thursday. The stock market wiped away earlier gains, ending Thursday's trading in another bloodbath session, as investors sold off positions amid President Donald Trump's announcement that he had actually raised tariffs on Chinese goods to 145 percent. The Nasdaq was battered the most among all major indices, losing 4.31 percent. The S&P 500 followed with a 3.46-percent drop while the Dow Jones came in last, down 2.50 percent. Meanwhile, 10 companies were heavily sold down on Thursday, recording double-digit losses as investors parked funds to minimize risks from the ongoing uncertainties. In this article, we have listed Thursday's 10 worst performers and detailed the reasons behind their drop. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume. A happy customer inspecting a newly purchased used car with the help of a sales assistant. CarMax Inc. tumbled by 17 percent on Thursday to finish at $66.45 each over a number of negative catalysts that dampened investor sentiment, missed analyst estimates, and nixed forecasts on long-term growth. On Thursday, KMX said that it removed the timelines for its long-term targets 'given the potential impact of macroeconomic factors.' KMX President and CEO Bill Nash, however, clarified that the withdrawal of long-term targets does not mean that the outlook has turned bearish. 'It definitely wasn't pessimistic,' he noted. During the fourth quarter of fiscal year 2025, KMX reported earnings per share of $0.58, falling short of the $0.65 as forecast by analysts. Revenues, on the other hand, grew 7 percent to $6 billion, while digital sales jumped 25 percent year-on-year. For 2026, KMX said it would continue to expand stores and reconditioning centers into new locations. Overall, KMX ranks 2nd on our list of stocks that traders heavily sold down on Thursday. While we acknowledge the potential of KMX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than KMX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
10-04-2025
- Automotive
- Yahoo
CarMax's (NYSE:KMX) Q1 Earnings Results: Revenue In Line With Expectations But Stock Drops
Used automotive vehicle retailer Carmax (NYSE:KMX) met Wall Street's revenue expectations in Q1 CY2025, with sales up 6.7% year on year to $6.00 billion. Its GAAP profit of $0.58 per share was 11.9% below analysts' consensus estimates. Is now the time to buy CarMax? Find out in our full research report. Revenue: $6.00 billion vs analyst estimates of $5.99 billion (6.7% year-on-year growth, in line) EPS (GAAP): $0.58 vs analyst expectations of $0.66 (11.9% miss) Adjusted EBITDA: $150 million vs analyst estimates of $228.7 million (2.5% margin, 34.4% miss) Operating Margin: 1%, in line with the same quarter last year Free Cash Flow Margin: 0.3%, down from 3.6% in the same quarter last year Locations: 250 at quarter end, up from 245 in the same quarter last year Same-Store Sales rose 5.9% year on year (-2% in the same quarter last year) Market Capitalization: $12.31 billion 'We are pleased with the continuing momentum across our diversified business during the fourth quarter. We delivered robust EPS growth driven by increases in unit sales and buys, strong growth in total gross profit, an increase in CAF income, and ongoing management of SG&A,' said Bill Nash, president and chief executive officer. Known for its transparent, customer-centric approach and wide selection of vehicles, Carmax (NYSE:KMX) is the largest automotive retailer in the United States. Buying a vehicle is a big decision and usually the second-largest purchase behind a home for many people, so retailers that sell new and used cars try to offer selection, convenience, and customer service to shoppers. While there is online competition, especially for research and discovery, the vehicle sales market is still very fragmented and localized given the magnitude of the purchase and the logistical costs associated with moving cars over long distances. At the end of the day, a large swath of the population relies on cars to get from point A to point B, and vehicle sellers are acutely aware of this need. Reviewing a company's long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. With $26.35 billion in revenue over the past 12 months, CarMax is one of the larger companies in the consumer retail industry and benefits from a well-known brand that influences purchasing decisions. However, its scale is a double-edged sword because there are only a finite number of places to build new stores, making it harder to find incremental growth. To expand meaningfully, CarMax likely needs to tweak its prices or enter new markets. As you can see below, CarMax's sales grew at a tepid 6.4% compounded annual growth rate over the last six years (we compare to 2019 to normalize for COVID-19 impacts). This quarter, CarMax grew its revenue by 6.7% year on year, and its $6.00 billion of revenue was in line with Wall Street's estimates. Looking ahead, sell-side analysts expect revenue to grow 4.9% over the next 12 months, a slight deceleration versus the last six years. We still think its growth trajectory is attractive given its scale and suggests the market is baking in success for its products. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. CarMax sported 250 locations in the latest quarter. Over the last two years, it has opened new stores quickly, averaging 2.9% annual growth. This was faster than the broader consumer retail sector. When a retailer opens new stores, it usually means it's investing for growth because demand is greater than supply, especially in areas where consumers may not have a store within reasonable driving distance. The change in a company's store base only tells one side of the story. The other is the performance of its existing locations and e-commerce sales, which informs management teams whether they should expand or downsize their physical footprints. Same-store sales is an industry measure of whether revenue is growing at those existing stores and is driven by customer visits (often called traffic) and the average spending per customer (ticket). CarMax's demand has been shrinking over the last two years as its same-store sales have averaged 4.9% annual declines. This performance is concerning - it shows CarMax artificially boosts its revenue by building new stores. We'd like to see a company's same-store sales rise before it takes on the costly, capital-intensive endeavor of expanding its store base. In the latest quarter, CarMax's same-store sales rose 5.9% year on year. This growth was a well-appreciated turnaround from its historical levels, showing the business is regaining momentum. We struggled to find many positives in these results. Its EBITDA missed significantly and its EPS fell short of Wall Street's estimates. Overall, this quarter could have been better. The stock traded down 7.1% to $74.45 immediately following the results. The latest quarter from CarMax's wasn't that good. One earnings report doesn't define a company's quality, though, so let's explore whether the stock is a buy at the current price. The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it's free. 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