UPGD Overview

Investment and Shareholder Changes: Henry Schein, Inc. announced a $250 million strategic investment from KKR & Co. Inc., making KKR the largest non-index fund shareholder with a 12% stake, and allowing for potential increase to 14.9%. Additionally, KKR will have representation on the Board of Directors.

Financial Outlook: The company reported preliminary fourth-quarter revenue of $3.2 billion, slightly below consensus estimates, and projected low to mid-single-digit growth in revenues and adjusted EPS for 2025, with plans to release full financial results on February 25, 2025.

Earnings Report Highlights: CarMax reported third-quarter earnings with sales of $6.223 billion, surpassing expectations, and earnings per share of 81 cents, exceeding the analyst consensus of 64 cents. The company also saw increases in retail used unit sales and gross profit margins.

Financial Position and Stock Activity: CarMax repurchased 1.5 million shares for $114.8 million during the quarter, maintaining a strong cash position with $271.9 million in cash and equivalents, while inventories stood at $3.665 billion.