bill nash carmax salary

Yes. As you recall at the beginning of the year, we had some staffing challenges and we ramped up that staffing throughout the year, and that will comp into next year. If I look at gas guzzlers from a sales standpoint, very similar year-over-year. You may also find the annual proxy statement by going directly to the company's website. But that being said, it is down, we are losing penetration to outside financing. So first of all, I feel really great about our IO success. Our intent continues to be to operate service-as-a-profit center, which from quarter-to-quarter can be impacted by sales trends and staffing disruptions. Now, Id like to turn the call over to Jon. The estimated additional pay is $11,628 per year. CarMax, Inc. (NYSE:KMX) Q3 2021 Earnings Conference Call December 22, 2020 9:00 AM ETCompany Participants. Nov 19 Insufficient new directors Nov 16 Executive VP exercised options and sold US$566k worth of stock Jul 23 Show all updates CEO Compensation Analysis Compensation vs Market: Bill's total compensation ($USD13.69M) is about average for companies of similar size in the US market ($USD12.28M). The information shown here is a reporting of information included in the company's proxy statement. And I think thats a very similar situation that were in right now, just for the reasons that we talked about. Thank you for standing by. They were recognized on a quarterly basis. Learn More about William D. Nash's net worth. The difference in EPR is primarily a result of the credit mix of customers booking with CAF. Second, adding self-service capabilities to enhance in-store interactions, including appraisals and express pickups. . Your line is open. Feb 1, 2016 0 Tom Folliard, left, and Bill Nash BY GREGORY J. GILLIGANRichmond Times-Dispatch A change of leadership is taking place at automotive retailer CarMax Inc. as the chain's. Yes. So, we feel like we will be able to manage it both from a sales standpoint, but also to your point, on the buy standpoint as well. Third, growing vehicle acquisition through attracting new customers and pursuing partnerships as we expand our appraisal offering to dealers and other businesses. And I talked about this on Analyst Day, but if you go back a few years, about 15% of our CapEx spend was on technology. We are going to let them borrow that full amount. Of this total $1,232,297 was received as a salary, $1,049,781 was received as a bonus, $7,499,999 was received in stock options, $1,365,652 was awarded as stock and $441,014 came from other types of compensation. Grisham discusses her efforts to better invest in education and grapple with the tension between the climate crisis, preservation and property rights. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The last person that they were was essentially with the consumer, and so we are working on a metric there. Get notified the next time William D. Nash buys or sells CarMax stock. Please disable your ad-blocker and refresh. So hopefully, thats the color that you needed. So the question that we wanted to ask was on the nature of the deceleration in the used car business from fiscal Q3 to fiscal Q4. These strong offers, along with the decrease in conversion in the lower portion of the credit spectrum driven by higher average selling prices and corresponding monthly payments, contributed to the swap and penetration between Tiers 2 and 3. We have consumers coming in with negative equity. Salary information comes from 4,340 data points collected directly from employees, users . Bill. Are you putting enough marketing spend behind that effort while you have this competitive advantage? Look, for the quarter, we really didnt see much of an impact on gas prices as far as a shift. Second, a $40 million increase in other overhead. Markets never sleep, and neither does Bloomberg News. Bill Nash is president and chief executive officer of CarMax, the nations largest retailer of used cars with more than 25,000 associates at more than 220 retail locations, customer experience centers, corporate locations and CarMax Auto Finance (CAF). While we expect to remain in investment mode over the next few years, we expect our leverage point to go back down after FY 23. I dont think inventory was necessarily a big topic for the fourth quarter. A free inside look at company reviews and salaries posted anonymously by employees. Learn More on William D. Nash's trading history. I also want to take the opportunity to highlight a few of the accomplishments made since our last call regarding our online finance experience. I mean we want to have these things priced fairly for the consumer. Your question on average age of vehicles, we did from a retail standpoint, we did see a shift to a little bit older car, which obviously is a little bit cheaper. The reason we only look on an annual basis is because it was really like a two-month to three-month lag there. This report is not for commercial use. This is up from 17% in last years fourth quarter. And again, I want to thank all of our associates because they are the reason for our success. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Prior to joining CarMax, Mr. Nash held various positions at Circuit City, including corporate tax manager. The corporate mailing address for Mr. Nash and other CarMax executives is 12800 TUCKAHOE CREEK PARKWAY, RICHMOND VA, 23238. I think the mix, if Im looking at 0 to, lets say, 0 to 4 year-over-year, I think there was about 10 points which changed from that bucket into the little bit higher, maybe the 5 to 7 bucket. Enrique Mayor-Mora - EVP . So, I think on the prior year, I think its growing our business, growing our penetration, that will continue to grow. Additionally, Bill Nash, CarMax president and CEO, will forego 50 percent of his salary and each member of the company's senior leadership team is taking a reduction in pay until further notice. If I had to rank in order of magnitude, and again, this is its hard to exactly quantify each one. I appreciate it. Bill Nash is president and chief executive officer of CarMax, the nations largest retailer of used cars with more than 30,000 associates at more than 230 retail locations, customer experience centers, corporate locations and CarMax Auto Finance (CAF). The estimated base pay is $37,194 per year. But I would probably say that the high prices are at the top of the list, followed by the COVID surge. So, if all things perform as we expect, really, the focal point on the future provision will be on the new originations. Fourth quarter net earnings per diluted share was $0.98, down 23% from a year ago. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them. This favorability was driven by an $11 million year-over-year net benefit from the recognition of profit sharing revenues and adjustments to our cancellation reserves. April 18, 2022 . Yes. We have been making investments and those investments are paying off, and we are really excited about the opportunities ahead of us as we continue to be that positive and disruptive force within the used car industry. Appreciate everything that they do on a daily basis, and we will talk again next quarter. Hey there. Enrique? The continued growth of the wholesale business is providing us with a strong gross profit lever. In some cases, we are not letting them borrow that full amount that they are asking for given the higher ASP, and perhaps there is another lender externally thats willing to provide that full amount, even though the income maybe not have gone up at the same level. Thanks for all the color on the long-term plans. The nice thing is we have a lever thats offsetting those inflationary pressures. Stacy Frole - VP, IR. That may or may not be the right decision for them, but CAF is exacerbating that. We know that, and now we are just trying to be able to quantify it more. But I think a good way to think about it, is the spend on a per unit basis this year will be similar to what it was for last year. Heading into next year, we do expect, as I mentioned in my prepared remarks, to need in excess of the 5% to 8% growth in growth profit in order to lever, and that really has to do with the timing of our investments this year. Yes. Yes. CarMax, Inc., together with its subsidiaries, operates as a retailer of used vehicles in the United States. Thank you. From a CapEx perspective, we are really just matching our capacity to the longer term demand. And I think approaching our CAF business that way is really what leads us to have a really strong portfolio of receivables out there and a really strong and consistent performing business in CAF. For the full year, we have repurchased approximately 4.5 million shares for $561.6 million, and as of March 31, 2022, we had $721.7 million of authorizations remaining. So, we feel great about it. Add Interview. And then also as it relates to the tech side, given the stepped-up investment in CapEx, is that kind of adequate, or potentially, is there some inorganic capabilities that you might be targeting as well? Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. When we look at market share and even in the fourth quarter, we had great market share growth, and we go off of Pulp data, which is title data. Thanks for taking my question. $1,365,652 was awarded as stock So really, when we look at that higher and 5% to 8% gross profit for next year, its driven primarily by that timing of that staffing investments that we need to continue to grow this business. So as far as when that turns around, I dont know. CAF income for the quarter was $194 million, an increase of 3% or $6 million from the same period last year. Please go ahead. And then are you shipping average age of your inventory somewhat older to try to make the price points more affordable? Thats a creative way to get like 14 questions into the first one. Tier 2 increased to 23.7% of used unit sales compared with 21% last year, and Tier 3 accounted for 6.7% of sales compared with 9.5% a year ago. We bought approximately 324,000 cars from consumers during the quarter, up 69% versus last years period. We will go next to David Whiston at Morningstar. Wholesale unit sales were up 43.8% from the fourth quarter last year and gross profit per unit was $1,191 compared to $990 a year ago. As the CEO of CarMax, Inc., Mr. Nash earns $2,720,000.00 per year. Bill, I just wanted to ask kind of a big picture question. CarMax CEO Bill Nash warned Thursday that consumers are struggling with affordability as the used car dealer reported its fiscal 2023 second-quarter . Information on this page was last updated on 7/20/2023. We will go next to Seth Basham with Wedbush Securities. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz- und Cookie-Einstellungen oder Datenschutz-Dashboard klicken. People are taking longer terms out there. This chart shows William D Nash's buying and selling at CarMax by year and by quarter. So, I think thats whats changing the actual penetration for this quarter. No. This net worth estimate does not reflect any other investments that Mr. Nash may own. I look back, FY 22 was a great year. We are not necessarily convinced that 84 months is best on a used car, so we will see what the market dictates. 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. CarMax Careers. Thank you. Great. Now I think, obviously, I think everybody in the marketplace is benefiting a little bit from higher valuations, but I think thats the minority of the bump that weve seen, so were excited about that. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions. Yes. (804) 747-0422 x 7865 Yes, I think so. this morning in its annual report on Form 10-K for the fiscal year ended February 28, 2021 filed with the SEC. For the full year, SG&A as a percent of gross profit was 70.7%, leveraging approximately 1 point over last years percentage of 71.6%. Your line is open. In the prior years fourth quarter, the provision for loan losses benefited from the continued reduction in the reserve that was established at the start of the COVID pandemic. But look, Im happy to take all of them. Its like a 12-part, one-part question. Other executives include Jim Lyski, EVP, Chief Marketing Officer; Diane Cafritz, EVP, General Counsel, Chief Compliance Officer & Chief Human Resources Officer and 11 others. Please go ahead. In regard to market share, Im excited for the future and confident that we will expand it beyond 5% by the end of calendar 2025. Now you have got, obviously, is this price appreciation, is there a risk down the road that some customers, it may be harder for them because they cant come up with a big enough down payment or whatever. Despite posting a decline in sales during our fiscal fourth quarter, comparing our results to published used vehicle SAAR data suggest that we continued to take share during the quarter. Stacy Frole - Vice President, Investor Relations. There are ebbs and flows all the time based on what external folks do, but we want to remain highly competitive and provide our higher-end customers an opportunity to finance internally. Our market share data indicates that our nationwide share of 0 to 10-year-old vehicles grew 13% from 3.5% in calendar 2020 to 4.0% in 2021. Weve often shared where we will price test down or up randomly. We will go next to Daniel Imbro with Stephens. Its an easy way to get rid of inventory that they are looking to get rid of as well as we will look for other partnerships where we can leverage this. These ranges reflect the macro factors we had earlier that could result in ongoing volatility in consumer demand and vehicle pricing. Good morning, Craig. We have continued to build out new and enhanced capabilities, and as those capabilities have come to market, we have continued to see positive returns. Net Worth Did you know? Coronavirus Tips Working and Protection. Wholesale valuations remained historically high during the quarter, which supported margin relative to the fourth quarter last year. Thank you again for your time. As well as just given the success of our wholesale business, we want to make sure that we can accommodate all the space. Thorough reviews have been conducted to assure this data accurately reflects disclosures. How do we think that for next year? Good morning. But thats an environment that we have lived in for the last almost 30 years. During the last twelve months, insiders at the sold shares 7 times. Good morning, everyone and thanks for joining us. Our next question comes from Rajat Gupta with JPMorgan. Good morning, on CAF penetration, more three-day payoffs. Hosted by Anna Edwards, Tom Mackenzie and Mark Cudmore. Overnight on Wall Street is morning in Europe. For the fourth quarter of FY 22, our diversified business model delivered total sales of $7.7 billion, up 49% compared with last years fourth quarter, driven by growth in average selling prices and wholesale volume gains partially offset by a decline in used units sold. Is this happening to you frequently? The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, How many employees does CarMax have? In regard to our share repurchase program, we repurchased approximately 872,000 shares in the quarter for approximately $102 million. One, I think its really the experience and the ease of use of the product. Thanks, Bill and good morning everyone. And I would tell you, I think we are at a point where there are certain things we want to make sure that we advertise and get out there, especially as we have new functionality. It is great sales. Great. First of all, the affordability, while youre right, its a headwind for retail, its actually good for wholesale, as you saw our wholesale margins. I would expect it to continue to be up. Journalist Alexander Heffner journeys from Maine to New Mexico, sitting down for meals and candid conversations with powerful political figures on both sides of the aisle. Our ability to offer seamless integration across digital and physical transactions gives us access to the largest total addressable market and is a key differentiator, one that we will continue to enhance. Bill Nash - President and Chief . On March 1, the JMU CoB welcomed another industry leader to its C-Suite Speaker series when it featured Bill Nash, President and CEO of CarMax. We have seen an uptick, for example, in things like EV searches, and Edmunds has seen that as well. And again, that is our objective as we continue to move forward, which means were going to continue to invest. And now that we have been transforming our business, as we look to this year and next year, we are looking at about 30% of our overall CapEx spend is related to technology, so certainly, not in the direction of becoming omni-channel retailer. This net worth estimate does not reflect any other investments that Mr. Nash may own. President and Chief Executive Officer at CARMAX INC as reported in their proxy statements. Following the completion of the sale, the chief executive officer now directly owns 177,180 shares of the company's stock, valued at $14,629,752.60. By providing your email address below, you are providing consent to Carmax Inc. to send you the requested Investor Email Alert updates. Recall from our second quarter call in September, one of our providers implemented a timing shift in their performance period for profit sharing revenues. We expect to require an increase beyond the 5% to 8% range of gross profit growth to lever in FY 23. And we dont have any further questions. So, I dont think we are targeting a penetration, and I would expect it to ebb and flow over time, especially as prices come down. investor_relations@carmax.com, David Lowenstein Look, we feel great about the auction business.

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