LONDON, April 23, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free earnings highlights on CarMax Inc. (NYSE: KMX). On April 02, 2015, the company reported its financial results for Q4 FY15 and full-year FY15 (period ended February 28, 2015). Click on http://get.Investor-Edge.com/pdf/?c=CarMax&d=23-Apr-2015&s=KMX to read our free earnings review on CarMax Inc. (CarMax). During Q4 FY15 and FY15, the company's total net sales and operating revenues grew 14.2% Y-o-Y and 13.5% Y-o-Y, respectively. President and CEO of CarMax, Thomas J. Folliard, stated that the company had another great year, achieving several new milestones. In FY15, the continued strong performance of used, wholesale and CAF operations, along with the growth of its store base and its ongoing share repurchase program, contributed to CarMax's record earnings per share, he added. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=CarMax&d=23-Apr-2015&s=KMX
Earnings Overview
During Q4 FY15, CarMax's net sales and operating revenues increased to $3.51 billion from $3.08 billion in Q4 FY14. The reported quarter's net sales and operating revenues slightly exceeded Bloomberg analysts' forecasts of $3.50 billion. In Q4 FY15, CarMax's total used vehicle unit sales grew 12.4% Y-o-Y and comparable stores used vehicle unit sales increased 7.0% Y-o-Y. Moreover, wholesale vehicle unit sales for Q4 FY15 grew 12.3% Y-o-Y. Free research on KMX can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=CarMax&d=23-Apr-2015&s=KMX
CarMax's total gross profit improved 23.9% Y-o-Y to $475.84 million in Q4 FY15. Net earnings for Q4 FY15 surged to $143.14 million, or $0.67 per diluted share, from $99.21 million, or $0.44 per diluted share, in Q4 FY14. Analysts from Bloomberg had expected net earnings of $131.00 million, or $0.60 per diluted share, for Q4 FY15.
In Q4 FY15, CarMax bought 3.4 million shares of common stock for $210.6 million under its share repurchase program, totalling repurchase during FY15 to 17.5 million shares at a cost of $912.8 million. As of February 28, 2015, the company had $2.37 billion remaining under its repurchase program.
During Q4 FY15, CarMax opened one store in Cleveland, which now brings the total of opened stores to 13 for FY15. This also takes the company's used car store count to 144 as of February 28, 2015. CarMax plans to open between 13 and 16 stores in each of the next three fiscal years. For FY16, the company's plans are to open 14 new stores and relocate one store whose lease will be expiring. Sign up and read the free analyst's notes on KMX at:
http://get.Investor-Edge.com/pdf/?c=CarMax&d=23-Apr-2015&s=KMX
For full-year FY15, CarMax's net sales and operating revenues grew to $14.27 billion from $12.57 billion in FY14. The company's net sales and operating revenues for FY15 was in-line with Bloomberg analysts' forecasts. During FY15, CarMax's total used vehicle unit sales rose 10.5% Y-o-Y and comparable stores used vehicle unit sales improved 4.4% Y-o-Y. Furthermore, the company's wholesale vehicle unit sales grew 9.8% Y-o-Y in FY15.
During FY15, CarMax's total gross profit improved 14.5% Y-o-Y to $1.89 billion. Net earnings for FY15 grew to $597.36 million, or $2.73 per diluted share, from $492.59 million, or $2.16 per diluted share, in FY14. Analysts from Bloomberg had expected the company to report net earnings of $577.60 million, or $2.66 per diluted share, in FY15. Visit Investor-Edge and access the latest research on KMX at:
http://get.Investor-Edge.com/pdf/?c=CarMax&d=23-Apr-2015&s=KMX
Stock Performance
On the day of earnings release, April 02, 2015, CarMax's stock rallied 9.27% to end the session at $74.73. Since then, the stock has mostly witnessed a negative trend. On the last close, Wednesday, April 22, 2015, the company's shares finished at $70.84, 0.06% below the previous day's closing price of $70.88. The stock vacillated between $70.46 and $71.52 during the session. A total of 1.37 million shares were traded which was below their three months average volume of 1.59 million shares. Over the last one month and the previous three months, the company's shares have gained 6.45% and 10.27%, respectively. Further, the stock has advanced 6.40% since the beginning of 2015. Shares in CarMax closed above their 50-day and 200-day moving averages of $67.83 and $58.30, respectively. Furthermore, the stock traded at a PE ratio of 26.53.
Sneak Peek to Corporate Insider Trading
In the last one month, there were 33 insider transactions made by 10 individuals. Between April 07, 2015 and April 13, 2015, a total of 589,961 shares of the company were bought at an average price of $34.10 per share, and for a total value of $19.16 million. During the same period, a total of 645,192 shares, valued at $47.41 million, were disposed at an average price of $73.36 pershare. The following are some of the abovementioned transactions: Thomas J. Folliard bought 209,951 shares at an average price of $32.69 and sold 237,198 shares at an average price of $73.41 per share; William C. Wood Jr., Executive Vice President of Stores at CarMax, bought 153,241 shares at price of $31.56and sold 161,448 shares at an average price $73.21 per share; William D. Nash, Executive Vice President of Human Resources and Administrative Services at CarMax, purchased 99,788 shares at an average price of $29.04 and sold 109,976 shares at an average price of $7343 per share. Complimentary in-depth research on KMX is available at:
http://get.Investor-Edge.com/pdf/?c=CarMax&d=23-Apr-2015&s=KMX
About Investor-Edge.com
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
===============
EDITOR'S NOTES:
===============
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Investor-Edge
Share this article