$KMX · CARMAX INC
CarMax reported Q2 FY2027 results with net revenues of $7.9 billion (+19.5% YoY) and diluted EPS of $1.16 versus $0.64 a year ago. Combined retail and wholesale unit sales hit 387,735 (+14.7%), with comparable store used unit sales up 13.0%. CAF income rose 32.1% to $135.6 million. The company announced plans to resume share repurchases in Q3 FY2027 and will host a Strategic Update on November 3, 2026.
- Net earnings per diluted share of $1.16, up 81.3% from $0.64 a year ago.
- Total net revenues rose 19.5% to $7.9 billion; combined retail and wholesale unit sales up 14.7% to 387,735.
- CAF income increased 32.1% to $135.6 million, with loan loss provision dropping $28.8M to $113.4 million.
- SG&A per total unit improved by $157 (8.8%) to $1,621; on track for $200M exit-rate savings by FY2027-end.
- Share repurchases to resume in Q3 FY2027; $1.31 billion remaining under authorization.
Extended-hours trading shows shares at $60.33, up 6.69% vs the regular-session close of $56.55, reflecting strong positive reaction to the 81% EPS beat and buyback resumption announcement.
CarMax's 81% EPS surge, broad-based unit growth recovery, and buyback resumption signal a powerful turnaround from the prior year's contraction.
CarMax's 13.8% used-unit growth and 81% EPS surge signal a sharp cyclical recovery in used-auto retail, contrasting with the prior year's 5.4% unit decline. The Tier 2 financing expansion positions CAF as the largest lender in that space.
Pricing actions to drive volume compressed retail GPU by $111 to $2,105 and wholesale GPU by $135 to $858. CAF allowance for loan losses rose to 3.07% of loans held for investment from 2.95% in May 2026, reflecting Tier 2 credit expansion risk.
Get filings like this before the market reacts.
Real-time SEC filing alerts, AI summaries, and a free daily digest — plus portfolio tracking that ties filings to your positions.