Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>CarMax, a leading used car retailer in the United States, reported its Q3 fiscal year 2024 results indicating a continuation of a strategic plan that has led to sequential year-over-year improvements across key business areas for four consecutive quarters.</li><li>Total sales for Q3 FY '24 were $6.1 billion, down by 5% compared to the previous year due to lower retail and wholesale prices and lower retail volume, partially offset by higher wholesale volume.</li><li>Retail unit sales declined by 2.9% while used unit comps were down by 4.1%.</li></ul>

CarMax, a leading used car retailer in the United States, reported its Q3 fiscal year 2024 results indicating a continuation of a strategic plan that has led to sequential year-over-year improvements across key business areas for four consecutive quarters.Total sales for Q3 FY '24 were $6.1 billion, down by 5% compared to the previous year due to lower retail and wholesale prices and lower retail volume, partially offset by higher wholesale volume.Retail unit sales declined by 2.9% while used unit comps were down by 4.1%.

CarMax Inc: How Are They Embracing Generative AI For Improving Efficiency & Strategic Expansion? - Major Drivers

<ul><li>CarMax, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations but surpassing the analyst consensus regarding earnings.</li><li>The acquisition of more vehicles from consumers and dealers and increased wholesale unit sales compared to the previous year contributed to this success.</li><li>Later in the quarter, CarMax launched its first all-electric semi-truck as a vehicle mover in California's San Joaquin Valley.</li></ul>

CarMax, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations but surpassing the analyst consensus regarding earnings.The acquisition of more vehicles from consumers and dealers and increased wholesale unit sales compared to the previous year contributed to this success.Later in the quarter, CarMax launched its first all-electric semi-truck as a vehicle mover in California's San Joaquin Valley.

CarMax Inc.: Omnichannel Investments Paying Off - What Does This Mean for Future Growth? - Major Drivers

<ul><li>CarMax, Inc. delivered a mixed result in the recent quarter, with revenues above market expectations but failed to surpass the analyst consensus regarding earnings.</li><li>Despite ongoing challenges in the market, the company's strategic actions have yielded positive outcomes and positioned it for future success.</li><li>In the quarter, CarMax's diversified business model generated total sales of $7.1 billion, attributed to lower retail and wholesale volume and prices.</li></ul>

CarMax, Inc. delivered a mixed result in the recent quarter, with revenues above market expectations but failed to surpass the analyst consensus regarding earnings.Despite ongoing challenges in the market, the company's strategic actions have yielded positive outcomes and positioned it for future success.In the quarter, CarMax's diversified business model generated total sales of $7.1 billion, attributed to lower retail and wholesale volume and prices.

CarMax Inc.: Unveiling 4 Strategic Moves Propelling Future Success Amid Market Chaos! - Major Drivers

<ul><li>CarMax delivered a mixed result in the fourth quarter as it failed to meet revenue expectations of Wall Street but managed an earnings beat.</li><li>CarMax Auto Finance generated $1.9 billion, resulting in a penetration of 44.7% net of 3-day payoffs.</li><li>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.</li></ul>

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.

CarMax Inc.: A Mixed Bag Auto Retail Player - Key Drivers

<ul><li>CarMax’s stock has been on a downward trajectory since the last quarterly result which had been a major disappointment.</li><li>In response to consumer demand and the current environment, CarMax continued to offer a higher mix of lower-priced vehicles.</li><li>We provide the stock of CarMax a ‘Hold’ rating with a revision in the target price.</li></ul>

CarMax’s stock has been on a downward trajectory since the last quarterly result which had been a major disappointment.In response to consumer demand and the current environment, CarMax continued to offer a higher mix of lower-priced vehicles.We provide the stock of CarMax a ‘Hold’ rating with a revision in the target price.

United States

CarMax, Inc. sells at retail used cars and light trucks. The Company purchases, reconditions, and sells used vehicles in its superstores and franchises throughout the United States.

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Carmax Inc (KMX US)

CarMax Inc: How Are They Embracing Generative AI For Improving Efficiency & Strategic Expansion? - Major Drivers

CarMax, a leading used car retailer in the United States, reported its Q3 fiscal year 2024 results indicating a continuation of a strategic plan...

Baptista Research

CarMax Inc.: Omnichannel Investments Paying Off - What Does This Mean for Future Growth? - Major Drivers

CarMax, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations but surpassing the analyst consensus...

Baptista Research

CarMax Inc.: Unveiling 4 Strategic Moves Propelling Future Success Amid Market Chaos! - Major Drivers

CarMax, Inc. delivered a mixed result in the recent quarter, with revenues above market expectations but failed to surpass the analyst consensus...

Baptista Research

CarMax Inc.: A Mixed Bag Auto Retail Player - Key Drivers

CarMax delivered a mixed result in the fourth quarter as it failed to meet revenue expectations of Wall Street but managed an earnings...

Baptista Research

CarMax Inc: Major Drivers

CarMax’s stock has been on a downward trajectory since the last quarterly result which had been a major disappointment. In response to consumer...

Baptista Research

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