5 Key Quarterly Reports to Watch

2. CarMax, Inc. (NYSE:KMX)

Number of Hedge Fund Holders: 36

Shares of CarMax, Inc. (NYSE:KMX) turned red on Wednesday, December 22, 2021, even though the used vehicle retailer posted its fiscal third-quarter results above expectations. The company earned $1.63 per share, up from $1.42 per share in the comparable period of 2020. Analysts were looking for earnings of $1.45 per share.

In addition, CarMax, Inc. (NYSE:KMX) posted revenue of $8.5 billion, up 64.5 percent on a year-over-year basis and ahead of the consensus forecast of $7.378 billion. Moreover, the company sold 415,054 vehicles in the quarter, up nearly 30 percent from the same period last year. The surge was mainly driven by solid demand for its online offerings.

Meanwhile, CarMax, Inc. (NYSE:KMX) purchased 383,215 vehicles from customers in the latest quarter, representing an impressive jump of 91 percent from the year-ago quarter.

Discussing the results, CEO of CarMax, Inc. (NYSE:KMX), Bill Nash, said:

“Our solid execution, customer-centric omni-channel strategy, and macro factors are driving strong performance across our diversified businesses. Our top line momentum continued into this quarter and we achieved record levels of third quarter unit sales in both retail and wholesale, generating all-time record revenues. We also bought more cars from customers than ever before.”