CarMax, Inc. (KMX) Q1 2024 Earnings Call Transcript

CarMax, Inc. (NYSE:KMX) Q1 2024 Earnings Conference Call June 23, 2023 9:00 AM ET

Company Participants

David Lowenstein - Assistant Vice President, Investor Relations

Bill Nash - President and Chief Executive Officer

Enrique Mayor-Mora - Executive Vice President, Chief Financial Officer

Jon Daniels - Senior Vice President, CarMax Auto Finance Operations

Conference Call Participants

Brian Nagel - Oppenheimer

Craig Kennison - Robert W. Baird

Daniel Imbro - Stephens

Sharon Zackfia - William Blair & Company

John Murphy - Bank of America Securities

John Healy - Northcoast Research

Scot Ciccarelli - Truist Securities

Michael Montani - Evercore ISI

Seth Basham - Wedbush Securities

Rajat Gupta - JPMorgan

Chris Pierce - Needham & Company

David Whiston - Morningstar

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the FY'24 Q1 CarMax Earnings Release Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, David Lowenstein, AVP Investor Relations. Please go ahead.

David Lowenstein

Thank you, Chelsea. Good morning. Thank you, everyone for joining our fiscal 2024 first quarter earnings conference call. I'm here today with Bill Nash, our President and CEO; Enrique Mayor-Mora, our Executive Vice President and CFO; and Jon Daniels, our Senior Vice President, CarMax Auto Finance Operations.

Let me remind you, our statements today that are not statements of historical fact, including statements regarding the company's future business plans, prospects and financial performance are forward-looking statements that we make pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.

These statements are based on our current knowledge, expectations and assumptions and are subject to substantial risks and uncertainties that could cause actual results to differ materially from our expectations. In providing projections and other forward-looking statements, we disclaim any intent or obligation to update them.

For additional information on important factors that could affect these expectations, please see our Form 8-K filed with the SEC this morning and our Annual Report on Form 10-K for the fiscal year ended February 28th, 2023 previously filed with the SEC. Should you have any follow-up questions after the call, please feel free to contact our Investor Relations Department at 804-747-0422, extension 7865.

Lastly, let me thank you in advance for asking only one question and getting back in queue for more follow-ups. Bill?