Benzinga | Jun 25, 2021 09:21AM EDT

Recap: CarMax Q1 Earnings



Shares of CarMax (NYSE:KMX) moved higher by 2.7% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 1853.33% over the past year to $2.63, which beat the estimate of $1.63.

Revenue of $7,698,000,000 up by 138.40% from the same period last year, which beat the estimate of $6,240,000,000.

Guidance

CarMax reaffirmed long-term targets for sales of $33 billion.

Conference Call Details

Date: Jun 25, 2021

Time: 09:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestors.carmax.com%2F&eventid=3106022&sessionid=1&key=E03E375E44CD2DDE224758D8A7116664&regTag=&V2=false&sourcepage=register

Price Action

Company's 52-week high was at $138.66

52-week low: $84.70

Price action over last quarter: down 4.24%

Company Description

CarMax sells, finances, and services used and new cars through a chain of 220 used retail stores at the end of fiscal 2021 plus one new vehicle store. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales account for about 83% of revenue, wholesale about 14%, and the remaining portion is composed of extended service plans and repair. In fiscal 2021, the company retailed and wholesaled 751,862 and 426,268 used vehicles, respectively. CarMax is the largest used vehicle retailer in the U.S., but still estimates that it has only about 3.5% U.S. market share of vehicles 0 to 10 years old but seeks over 5% by the end of calendar 2025. CarMax is based in Richmond, Virginia.