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Car Max higher on earnings beat

Published 09/22/2017, 09:09 AM
© Reuters.  Car Max higher on earnings beat
KMX
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  • CarMax (NYSE:KMX) reports used vehicles unit sales rose 11.1% to 186,019, and +5.3% on a comparable-store basis in Q2.
  • Used vehicle sales advanced 11.9% to $3.69B.
  • Total wholesale vehicle unit sales grew 0.4% to 105,508 and total sales down 2.3% to $547.8M.
  • CarMax Auto Finance income expanded 12.5% to $107.9M.
  • Average selling prices: Used vehicles: $19,667 (+0.7%), Wholesale vehicles: $4,957 (-3.2%).
  • Gross margin rate improved 20 bps to 13.8%.
  • Gross profit per used vehicle increased 0.8% to $2,178.
  • Gross profit per wholesale vehicle +9.2% to $950.
  • KMX +3.86% premarket.
  • Now read: Asbury Automotive Group Potentially Undervalued Despite Uncertainties


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