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CarMax delivered a mixed result in the fourth quarter as it failed to meet revenue expectations of Wall Street but managed an earnings beat. CarMax Auto Finance generated $1.9 billion, resulting in a penetration of 44.7% net of 3-day payoffs. The weighted average contract rate paid to new clients was 10.9%, an increase of 110 basis points from the third quarter and 270 basis points from the same time the previous year. In the quarter, Tier 2 penetration was 19.4%, lower than usual seasonal level
Companies: CarMax (KMX:NYSE)CarMax, Inc. (KMX:NYS)
Baptista Research
CarMax’s stock has been on a downward trajectory since the last quarterly result which had been a major disappointment. The company failed to meet Wall Street expectations in terms of both, revenues as well as earnings. Macro factors, which include vehicle affordability stemming from broad and persistent inflation, low consumer confidence, and climbing interest rates, led to the market-wide decline in used auto sales. In response to consumer demand and the current environment, CarMax continued t
CarMax had a decent start to the 2023 fiscal and generated total sales of $9.3 billion in the first quarter, up 21% from the previous year's period. This increase was primarily driven by growth in average selling prices and wholesale volume gains, which were only partially offset by a decline in the sale of retail used units. The company sold roughly 427,000 cars in total during the first quarter through its retail and wholesale channels, which is a 5.5% decrease from last year. Total unit sales
Companies: CarMax, Inc. (KMX:NYS)CarMax, Inc. (0HTQ:LON)
CarMax’s 2021 results reflected significant growth in earnings, market share, and sales and the company has shown robust progress on its strategic initiatives. CarMax’s diversified business model showed a 49% up in total sales as compared to the previous year because of growth in wholesale volume gains and average selling prices. The retail market share growth is highest as the company focuses on delivering a maximum customer-centric experience in the auto industry. CarMax was able to strike a b
Auto dealer, CarMax Inc. has benefitted heavily from the positive trends in the used car industry. The high level of pricing and supply shortage of new cars coupled with the stimulus package are the reasons behind increased consumer spending on used vehicles. CarMax is milking this used car demand and also launched an e-commerce portal for online car shopping. The company is in expansion mode and plans to open ten new stores in fiscal 2022. The management’s goal is to continue generating double-
Auto dealer, CarMax has become a major beneficiary of the unusually positive trends in the used car industry. With the consumer spending on used cars being propelled by the recent stimulus as well as the high level of pricing and supply shortage of new cars, U.S. consumers are flocking to its outlets to buy more and more used cars. CarMax is completely encashing on this used car demand and has recently launched an e-commerce platform for online car shopping and also planned ten new stores additi
Research Tree provides access to ongoing research coverage, media content and regulatory news on CarMax, Inc.. We currently have 0 research reports from 3 professional analysts.
Vertu is the fourth largest automotive retailer in the UK, with 188 sales outlets and a track record of cross-cycle growth, principally through businesses it has acquired, funded by equity, debt and most importantly cash generation. Vertu operates across the entire vehicle lifecycle, including new and used vehicle sales, and vehicle servicing, repair and parts. Service and repair is a 40+% gross margin repeating business. With economic headwinds, the transition to electric vehicles, recent overs
Companies: Vertu Motors PLC
Progressive Equity Research
Today’s trading statement from ZOO highlights a ramp-up in demand following the end to the industry-wide strikes of last year. ZOO struck a note of caution in its January update regarding the timing of orders. However new productions are starting to translate into a healthy order pipeline, with a good recovery in revenue anticipated in H1 FY25. The update guides to revenue of at least $40m for the year to March 2024, ahead of our estimate at $36.8m. We have improved our adjusted EBITDA loss marg
Companies: ZOO Digital Group plc
Loungers is an award winning, uniquely positioned all day café-bar group that has grown revenues an impressive 22.5% CAGR FY16-FY23. Comprising of Lounges, Cosy Club and Brightside, the 257-site group still has huge scope to grow towards its conservative ambition of over 650 sites. Loungers is profitable with improving margins and we forecast will generate over £100m free cashflow (pre-expansion capex) FY24E-FY26E. This, we estimate, will fully fund c.100 new site openings over the next three y
Companies: Loungers Plc
Equity Development
Companies: Next plc (NXT:LON)Judges Scientific plc (JDG:LON)
Shore Capital
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
Companies: TXG NDVA TSVT BCOW Z29 TXG NCYT GNS SUN AMS OMG APH EKF EAH IMM AGL DEMG AGY TSTL IPO GDR ETX TRX HVO CTEC AVO OXB DEST VLG IXI VAL INDV AGR AVCT BAI 123F IMCR BCOW
Hardman & Co
Companies: JDW MAB MARS WTB FSTA BOWL CPG SSPG LGRS SSTY OTB HSW TMO GYM MEX
Liberum
Pinewood’s transition to a pure-play automotive SaaS business is now largely complete. Today we introduce summary forecasts out to FY26 and reiterate the investment case. We see significant opportunity for Pinewood to grow its user base in the UK and internationally whilst generating high EBITDA margins and cash conversion. With a 24.5p special dividend embedded in the current price (payable Q1/Q2), the effective price today is 12.3p. Based on the Group’s FY27 target of £27m EBITDA, we estimate
Companies: Pinewood Technologies Group PLC
Zeus Capital
This morning’s trading statement from ZOO confirms that production companies are taking longer than expected to complete projects. This follows the resumption of new production after the industry-wide strikes ended in November 2023. The anticipated January ramp-up has yet to fully materialise, with entertainment projects expected to complete in January now moving into February and beyond. However, ZOO has been notified by its largest customer of a pipeline of orders that provides good visibility
Companies: UTL ASC DNLM BWNG MONY DFS BOO
The Great Correction of 2022 saw the share prices of streamers plunge after market leader Netflix reported a slowdown/fall in subscriber growth. Having formerly been seduced by hectic subscriber growth rates, investors quickly refocused, this time on fundamental metrics such as revenue, margins, profits and cashflow. Since then, streamers have continued to take a steadily greater share of viewing while linear TV continues to decline. But growth in streaming subscribers in the US and UK is now a
Companies: AMZN DIS WBD NFLX NFLX ITV STVG PARA AMZN DIS
Flutter reported softer than expected Q3 23 trading numbers, as unfavourable sports results weighed on the cross-market performance. The firm lost share in the US even as competition intensified in a seasonally light sports quarter, sending the stock sharply lower. However, we expect a strong recovery in the US in Q4 even as Australia is now expected to remain a pain point into FY24. We will trim our estimates by low to mid-single digits to factor in the soft showing.
Companies: Flutter Entertainment Plc
AlphaValue
Companies: Rank Group Plc
Companies: CTG NXT JTC
During 2023, ME Group commenced the deployment of its next generation photobooths, which are integrated with the group’s newly developed proprietary software, gained market leadership in the Japanese photobooth market with an acquisition, continued to roll out laundry units with existing and new location partners, commenced a share buyback programme and gained entry into the FTSE 250. 2023 was a year of significant strategic and financial progress, with sales up 15%, EPS up 31% and net cash main
Companies: ME Group International plc
Cavendish
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