CarMax (KMX) Tops Q1 Views
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CarMax Inc. (NYSE: KMX) reports Q1 EPS of $0.13, versus the consensus of $0.04 Net sales fell 17% to $1.83 billion, versus the consensus of $1.72 billion.
Comparable store used unit sales declined 17% for the quarter. Total used unit sales decreased 13% in the first quarter.
As of May 31, 2009, $636.0 million of auto loan receivables were outstanding in the warehouse facility and unused warehouse capacity totaled $764.0 million. The warehouse facility has an annual term, and it expires in July 2009. We are currently working on the renewal or replacement of this facility, which is used as the initial funding source for CAF auto loans.
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