NYSE$KMX
CarMax Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
CarMax's financial performance reflected sequential improvements across key business components, despite industry-wide pressures.
CarMax reported a 5.5% decrease in net revenues to $6.1 billion for the third quarter of fiscal year 2024. Despite a decline in retail used unit sales, the company saw growth in wholesale units and a significant increase in other gross profit. Net earnings per diluted share increased to $0.52 from $0.24 in the prior year, and the company resumed share repurchases during the quarter.
- Net revenues decreased by 5.5% year-over-year to $6.1 billion.
- Retail used unit sales declined by 2.9%, while wholesale units increased by 7.7%.
- Gross profit per retail used unit was $2,277, and gross profit per wholesale unit was $961, both in line with the prior year.
- Net earnings per diluted share rose to $0.52, compared to $0.24 in the same quarter last year.
Headline financials
Revenue & EPS history
CarMax · Revenue · Quarterly
$6.15B
Revenue by segment
CarMax · $6.15B total across 3 segments · Q3 2024
- Used vehicle sales$4.83B-7.2%78.6%
- Wholesale vehicle sales$1.17B+1.1%19.0%
- Other sales and revenues$151M+1.4%2.5%
Forward guidance
CarMax plans to open four stores during the fourth quarter of fiscal year 2024, including two in the New York metro market and one each in the Los Angeles and Chicago metro markets. Additionally, they will open their first stand-alone reconditioning center in the Atlanta metro market.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
-1.7%
Avg return
Earnings day
-2.7%
Avg return
5 days after
+0.4%
Avg return
30 days after
41%
28 / 69 earnings
Positive
+14.6%
Q1 2015
Best reaction
-23.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | -8.5% | — | — | |
| Q4 2026 | -3.4% | -16.7% | -23.0% | |
| Q3 2026 | -4.5% | -6.4% | +18.9% | |
| Q2 2026 | -19.9% | -21.3% | -22.4% | |
| Q1 2026 | -3.4% | -4.0% | -10.8% | |
| Q4 2025 | -17.0% | -15.4% | -17.4% | |
| Q3 2025 | +3.5% | +4.3% | -3.0% | |
| Q2 2025 | +3.8% | +4.9% | -3.3% | |
| Q1 2025 | +2.6% | +1.9% | +12.1% | |
| Q4 2024 | -9.9% | -12.0% | -9.6% | |
| Q3 2024 | +2.5% | +2.0% | -7.4% | |
| Q2 2024 | -11.2% | -13.4% | -24.1% | |
| Q1 2024 | +3.7% | +7.7% | +6.3% | |
| Q4 2023 | +4.1% | +5.5% | +9.7% | |
| Q3 2023 | +1.3% | +1.8% | +11.3% | |
| Q2 2023 | -23.6% | -20.8% | -26.2% | |
| Q1 2023 | +7.5% | +2.0% | +2.8% | |
| Q4 2022 | -9.9% | -11.0% | -11.5% | |
| Q3 2022 | -7.8% | -6.9% | -21.1% | |
| Q2 2022 | -13.2% | -13.8% | -6.5% | |
| Q1 2022 | +8.0% | +8.1% | +12.9% | |
| Q4 2021 | -3.5% | -4.8% | +0.4% | |
| Q3 2021 | -7.2% | -8.1% | +19.7% | |
| Q2 2021 | -11.2% | -12.1% | -14.1% | |
| Q1 2021 | -4.0% | -8.6% | -3.0% | |
| Q4 2020 | -7.2% | +10.8% | +35.7% | |
| Q3 2020 | -9.7% | -10.1% | -3.1% | |
| Q2 2020 | -0.9% | +0.7% | +9.5% | |
| Q1 2020 | -0.4% | +1.4% | +2.2% | |
| Q4 2019 | +8.5% | +11.8% | +22.4% | |
| Q3 2019 | +4.1% | +10.3% | +9.2% | |
| Q2 2019 | -2.7% | -2.9% | -7.7% | |
| Q1 2019 | +8.0% | +4.6% | +8.6% | |
| Q4 2018 | +3.8% | -2.0% | +8.3% | |
| Q3 2018 | -4.7% | -4.3% | +3.1% | |
| Q2 2018 | +7.9% | +9.5% | +9.2% | |
| Q1 2018 | +5.5% | +7.0% | +11.5% | |
| Q4 2017 | -0.3% | +1.0% | +5.4% | |
| Q3 2017 | +5.8% | +2.7% | +6.6% | |
| Q2 2017 | -2.5% | -3.9% | -10.2% | |
| Q1 2017 | -8.2% | -8.5% | +13.7% | |
| Q4 2016 | -4.3% | — | — | |
| Q3 2016 | -8.1% | — | — | |
| Q2 2016 | -5.3% | — | — | |
| Q1 2016 | -5.5% | — | — | |
| Q4 2015 | +8.1% | — | — | |
| Q3 2015 | +12.1% | — | — | |
| Q2 2015 | -8.2% | — | — | |
| Q1 2015 | +14.6% | — | — | |
| Q4 2014 | -8.2% | — | — | |
| Q3 2014 | -10.6% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | -1.3% | — | — | |
| Q4 2013 | +8.4% | — | — | |
| Q3 2013 | +8.5% | — | — | |
| Q2 2013 | -8.4% | — | — | |
| Q1 2013 | -7.8% | — | — | |
| Q4 2012 | +1.2% | — | — | |
| Q4 2009 | +1.2% | — | — | |
| Q3 2012 | +2.0% | — | — | |
| Q2 2012 | +7.1% | — | — | |
| Q1 2011 | -3.9% | — | — | |
| Q1 2012 | -3.9% | — | — | |
| Q4 2011 | +4.4% | — | — | |
| Q3 2011 | +2.3% | — | — | |
| Q3 2010 | +2.3% | — | — | |
| Q2 2010 | -0.7% | — | — | |
| Q4 2010 | -0.7% | — | — | |
| Q2 2011 | -0.7% | — | — |
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