CarMax 公布的业绩强劲、超出预期，得益于高销量与库存清理，但代价是利润率下降。
逐段跳播
CarMax 的情况则不同。而 CarMax 则相反，基于更低的价格交出了一份非常出色的财报。他们牺牲了一些利润率，但尽管如此，他们仍大幅超出了预期，尤其是在销量方面。
Well, the situation is different for CarMax. while CarMax, in contrast, presented a very good report based on lower prices. They sacrificed some profit margins, but nevertheless, they significantly exceeded expectations, especially in terms of sales volume.
从本季度的营收来看，我们发现约为78亿美元，超过了70.8亿美元的预期。也就是说，它超出预期约8亿美元，同比增长19.5%。
Looking at the quarter's revenue, we find it to be around $7.8 billion , exceeding expectations of $7.08 billion. That is, it exceeded expectations by about $800 million , an increase of 19.5% year-on-year compared to last year.
然后每股收益非常亮眼，达到1.16美元，而预期约为0.72美元。这代表着81%的增长。那么，如果我们看组装单位的增长，这一点很重要，它们录得超过387,000台，增长了14.7%。
Then the earnings per share were remarkable, reaching $1.16 compared to expectations of around $0.72 . This represents an increase of 81%. So, if we look at the growth of the assembled units, which is important, they recorded more than 387,000 units, an increase of 14.7%.
看一下现有门店的销量增长，它增长了13%。因此，本季度真正的挑战在于，由于以较低价格处置库存，牺牲了零售毛利润。
Looking at the growth of units sold in existing stores, it has grown by 13%. Therefore, the real challenge for this quarter was sacrificing gross retail profit margins due to the disposal of inventory at lower prices.
如果我们看每辆车的零售毛利润，会发现它大约为2,105美元。这比去年的数字减少了约111美元。但在我看来，最重要的是现有门店的销售数字，它增长了13%。
If we look at the gross retail profit per vehicle, we find that it amounts to approximately US$2,105. This represents a decrease of approximately US$111 compared to last year's figure.
But what's most important, in my opinion, is the sales figure in existing stores, which increased by 13%.
因此，公司的战略围绕清理库存和削减运营费用展开。这当然有助于抵消汽车利润率的部分下滑。
Therefore, the company's strategy was centered around clearing inventory and reducing operating expenses. This, of course, helps offset some of the decline in car profit margins .
不过，他们还谈到了增加股票回购，总体而言，这对Carmax来说是一份非常好的财报，该公司已开始从5月的低点大幅回升。
However, they also talked about increased share buybacks, and overall, it was a very good report for Carmax, which has begun to recover significantly from its lows in May.
这个频道对 $KMX 的历次判断
Schwab Network 在这只股票上只有这一条判断。