CarMax, Inc. Earnings Recaps
Q1 2026
Apr 15, 2026
CarMax delivered 6% revenue growth and 42% EPS increase in Q1, driven by strong unit volumes and operational efficiencies, despite a modest decline in average prices.
Key takeaways
- Retail unit sales rose 9%, with used unit comps up 8.1%, supported by record gross profit per unit amid robust demand.
- Total sales reached $7.5 billion, up 6%, primarily from higher volume offsetting lower average selling prices.
- Digital and omni-channel capabilities supported 80% of retail sales, enhancing customer experience and contributing to record-high NPS scores.
- CarMax Auto Finance originations exceeded $2.3 billion, with a net interest margin of 6.5%, though credit losses increased due to seasonal and economic factors.
- The company doubled share repurchases, expanded gross profit, and maintained a disciplined approach to credit spectrum growth amid challenging macro conditions.
Q4 2026
Apr 14, 2026
CarMax delivered a solid Q4 FY2026 amid strategic shifts, with operations focused on improving sales, reducing costs, and enhancing digital capabilities under new leadership.
Key takeaways
- Revenues grew as efforts to lower prices, boost marketing, and deploy digital enhancements began to positively impact sales trends.
- Progress was made on cost-saving initiatives, including streamlining SG&A and reducing vehicle acquisition costs to improve affordability.
- Leadership transition with Keith Barr emphasizing a customer-centric approach and digital transformation to unlock growth opportunities.
- The company remains focused on driving customer trust through fair pricing, broad inventory, and seamless omnichannel experiences.
- Upcoming initiatives will prioritize leveraging technology for better efficiency and customer engagement, signaling a focus on long-term value creation.