Sales and Eps Grew in Double Digits

Carmax, Inc announced first quarter 2014 operating income of $188.285 millions
 
June 23, 2014 - PRLog -- Company reported double digit Sales and earnings growth in the first quarter 2014. Sales were at $3.75 billions up by 13.26 % year on year and improved by 18.79 % quarter on quarter, while income increased by 18.75 % to $0.76, sequentially eps soared by 72.73 %.

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: Used vehicles (Gross profit per Unit $) -84.92 %. Worst was: Used vehicles (Gross profit per Unit $).

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Source:Carmax, Inc
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Tags:Car Sales, Carmax, Eps, Earnings
Industry:Automotive, Finance
Subject:Earnings
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