10-Q quarterly report · filed Jan 8, 2015

Carmax Inc (KMX) Q4 2014 10-Q Quarterly Report

Short answer

Carmax Inc (KMX) filed its Q4 2014 10-Q quarterly report on Jan 8, 2015 for the quarter ended Nov 30, 2014.

Carmax Inc Q4 2014 10-Q analysis

AI summary of MD&A and risk factor updates

Management Discussion & Analysis

  • Quarterly revenue $3.405B, up 15.8% YoY from $2.941B
  • Net earnings $130.0M, up 22.2% YoY from $106.5M; effective tax rate 38.3% vs 8.5%
  • Best performer: used vehicles, revenue $2.795B, up 16.6%; wholesale revenue $481.7M, up 10.2%
  • Cash $189.9M vs $627.9M; operating cash used $784.6M vs $493.1M, driven by inventory growth
  • CAF interest margin 6.4% vs 6.8%; 13 stores planned for fiscal 2015, with funding-cost and consumer-rate pressure risks

Risk Factors

  • No identifiable 10-Q risk factors provided, only executive employment-agreement provisions
  • Executive termination obligations: accrued salary, prior-year bonus, and benefits payable after retirement or death
  • Executive death risk: beneficiary receives pro rata target bonus within 10 days
  • Executive retirement risk: pro rata actual bonus payable based on fiscal-year performance
  • Long-term incentive risk: termination consequences governed by outstanding award agreements

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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