Carmax Inc (KMX) Q4 2015 10-Q Quarterly Earnings

Short answer

Carmax Inc (KMX) filed its Q4 2015 10-Q quarterly report on Jan 7, 2016 for the quarter ended Nov 30, 2015.

AI summary of MD&A and risk factor updates

Revenue $3,544.1M, up 4.1% YoY from $3,405.2M
Gross margin 13.1% vs 13.1% YoY, total gross profit $464.3M vs $446.6M
Best segment CAF income $92.3M, up 2.9%; weakest line new vehicle gross profit $0.7M, down 52.3%
Adjusted operating cash flow $483.7M; share repurchases $816.2M and capital expenditures $240.8M
Outlook: five new stores planned; headwinds include modestly lower traffic, credit-market funding costs and CAF interest-margin compression to 6.0% vs 6.4%

No material changes identified in the provided section, which contains no explicit risk-factors discussion
Credit risk: Past-due managed receivables rose to 3.2% from 2.6% as of February 28, 2015
Funding risk: Non-recourse notes payable increased to $9.34 billion from $8.47 billion
Interest-rate risk: Credit-market disruptions could reduce derivative hedge effectiveness
Liquidity risk: Cash and equivalents totaled $33.346 million against $864 million long-term debt excluding current portion

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

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