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Carmax Inc (KMX) SEC Filing 10-Q Quarterly report for the period ending Thursday, August 31, 2017

Carmax Inc

CIK: 1170010 Ticker: KMX











CARMAX REPORTS SECOND QUARTER RESULTS

Richmond, Va., September 22, 2017 – CarMax, Inc. (NYSE:KMX) today reported results for the second quarter ended August 31, 2017. Year-over-year highlights include:

Net sales and operating revenues increased 9.7% to $4.39 billion.

Used unit sales in comparable stores increased 5.3%.

Total used unit sales rose 11.1%.

Total wholesale unit sales increased 0.4%.

CarMax Auto Finance (CAF) income increased 12.5% to $107.9 million.

Net earnings increased 11.7% to $181.4 million and net earnings per diluted share rose 16.7% to $0.98.

Second Quarter Business Performance Review

Sales. Total used vehicle unit sales grew 11.1% and comparable store used unit sales rose 5.3% versus the prior year’s second quarter. The comparable store sales performance reflected continued solid improvement in conversion resulting from strong execution by our store teams and our digital initiatives. In connection with Hurricane Harvey, our six stores in Houston, Texas, were closed most of the last week of this year’s second quarter, which had a modest adverse effect on comparable store used unit sales.

Wholesale vehicle unit sales increased 0.4% compared with the second quarter of fiscal 2017, as contributions from the growth in our store base and an increase in our appraisal buy rate were offset by a reduction in appraisal traffic.
Other sales and revenues increased 6.4% compared with the second quarter of fiscal 2017, primarily reflecting improvements in extended protection plan (EPP) revenues, partially offset by a decline in net third-party finance fees. EPP revenues increased 13.9%, largely due to the growth in our used unit sales. The $3.3 million reduction in third-party finance fees reflected shifts in our sales mix by finance channel.


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The following information was filed by Carmax Inc (KMX) on Friday, September 22, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Carmax Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Earnings
Accounting Policies
Accounting Policies (narrative) (details)
Accounting Policies (policy)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (accumulated Other Comprehensive Loss) (details)
Accumulated Other Comprehensive Loss (changes In And Reclassifications Out Of Accumulated Other Comprehensive Loss) (details)
Accumulated Other Comprehensive Loss (narrative) (details)
Accumulated Other Comprehensive Loss (tables)
Auto Loan Receivables
Auto Loan Receivables (allowance For Loan Losses) (details)
Auto Loan Receivables (auto Loan Receivables, Net) (details)
Auto Loan Receivables (ending Managed Receivables By Major Credit Grade) (details)
Auto Loan Receivables (past Due Receivables) (details)
Auto Loan Receivables (tables)
Background
Background Background (narrative) (details)
Cancellation Reserves
Cancellation Reserves (narrative) (details)
Cancellation Reserves (schedule Of Cancellation Reserves Accrual) (details)
Cancellation Reserves (tables)
Carmax Auto Finance
Carmax Auto Finance (components Of Carmax Auto Finance Income) (details)
Carmax Auto Finance (tables)
Contingent Liabilities
Contingent Liabilities (details)
Debt
Debt (narrative) (details)
Debt (schedule Of Debt) (details)
Debt (tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (fair Values Of Derivative Instruments On The Consolidated Balance Sheets) (details)
Derivative Instruments And Hedging Activities (narrative) (details)
Derivative Instruments And Hedging Activities (schedule Of Effect Of Derivative Instruments On Comprehensive Income) (details)
Derivative Instruments And Hedging Activities (tables)
Fair Value Measurements
Fair Value Measurements (schedule Of Items Measured At Fair Value On A Recurring Basis) (details)
Fair Value Measurements (tables)
Fair Value Measurements Fair Value Measurements (schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments) (details)
Income Taxes
Income Taxes (narrative) (details)
Net Earnings Per Share
Net Earnings Per Share (basic And Dilutive Net Earnings Per Share Reconciliations) (details)
Net Earnings Per Share (narrative) (details)
Net Earnings Per Share (tables)
Retirement Plans
Retirement Plans (components Of Net Pension Expense) (details)
Retirement Plans (narrative) (details)
Retirement Plans (tables)
Stock And Stock-based Incentive Plans Schedule Of Stock Incentive Plan Information (stock/unit Activity) (details)
Stock And Stock-based Incentive Plans Stock And Stock-based Incentive Plans
Stock And Stock-based Incentive Plans Stock And Stock-based Incentive Plans (composition Of Share-based Compensation Expense - By Grant Type) (details)
Stock And Stock-based Incentive Plans Stock And Stock-based Incentive Plans (composition Of Share-based Compensation Expense) (details)
Stock And Stock-based Incentive Plans Stock And Stock-based Incentive Plans (narrative) (details)
Stock And Stock-based Incentive Plans Stock And Stock-based Incentive Plans (schedule Of Common Stock Repurchases) (details)
Stock And Stock-based Incentive Plans Stock And Stock-based Incentive Plans (tables)
Supplemental Cash Flow Information Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information Supplemental Cash Flow Information (notes)
Supplemental Cash Flow Information Supplemental Cash Flow Information (tables)
Ticker: KMX
CIK: 1170010
Form Type: 10-Q Quarterly Report
Accession Number: 0001170010-17-000162
Submitted to the SEC: Thu Oct 05 2017 11:57:41 AM EST
Accepted by the SEC: Thu Oct 05 2017
Period: Thursday, August 31, 2017
Industry: Retail Auto Dealers And Gasoline Stations

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