Sales and Eps Grew in Double Digits
Carmax, Inc announced first quarter 2014 operating income of $188.285 millions
Wide-spread earnings growth in Used vehicle, New vehicle, Wholesale vehicle segment, cumulated into 15.68 % bottom line increase for Carmax, Inc. First quarter net income was $170 millions, an improvement from $147 millions in the same quarter a year ago. Carmax, Inc also emphasized it's improving profit margins, where net margin rose to 4.52% in first quarter 2014, and operating margin edged up to 5.02%.
Analysing further company's results, an astounding rise of 33.25% in New vehicle unit sales to 2,597.00 explains the first quarter 2014 performance.
Other gains in Wholesale vehicles (Gross profit per Unit $) 6.84 %, were worth mentioning.
While following indicators decreased: New vehicles (Average selling price $) down -0.1 %.
While following 2 indicators decreased catastrofaly: