CarMax (KMX) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
CarMax (KMX) reported $6.15 billion in revenue for the quarter ended November 2023, representing a year-over-year decline of 5.5%. EPS of $0.52 for the same period compares to $0.24 a year ago.
The reported revenue represents a surprise of -2.06% over the Zacks Consensus Estimate of $6.28 billion. With the consensus EPS estimate being $0.42, the EPS surprise was +23.81%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how CarMax performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Comparable Store Used Vehicles Sales - YoY change: -8.3% versus the seven-analyst average estimate of 0.6%.
Number of stores - Total: 240 compared to the 243 average estimate based on six analysts.
Gross Profit per Unit - Used vehicles gross profit: $2,277 versus $2,231.18 estimated by six analysts on average.
Gross Profit per Unit - Wholesale vehicles gross profit: $961 versus the six-analyst average estimate of $951.14.
Revenue per vehicle retailed (ASP) - Wholesale vehicles: $8.67 thousand versus $8.71 thousand estimated by five analysts on average.
Unit sales - Wholesale vehicles: 127,900 versus 127,598 estimated by five analysts on average.
Unit sales - Total vehicles: 302,666 versus 310,322 estimated by five analysts on average.
Net sales- Wholesale vehicles: $1.17 billion versus $1.16 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +1.1% change.
Net sales- Used vehicles: $4.83 billion compared to the $5 billion average estimate based on eight analysts. The reported number represents a change of -7.2% year over year.
Net sales- Other: $151.26 million versus the seven-analyst average estimate of $153.20 million. The reported number represents a year-over-year change of +1.4%.
Other sales and revenues- Extended protection plan revenues: $90.80 million versus $90 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
Other sales and revenues- Advertising & subscription revenues: $36.70 million compared to the $34.21 million average estimate based on five analysts.
View all Key Company Metrics for CarMax here>>>
Shares of CarMax have returned +16.9% over the past month versus the Zacks S&P 500 composite's +5.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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CarMax, Inc. (KMX) : Free Stock Analysis Report
