The strong beat across both top and bottom lines, combined with accelerating comparable store sales and a planned resumption of buybacks, suggests the 'Shift into GEAR' strategy is gaining traction. Watch the November 3rd Strategic Update for further details on margin targets and capital allocation plans.
Price Chart
Executive Summary
CarMax reported Q2 FY2027 EPS of $1.16, well above the $0.73 consensus, on revenue of $7.88B versus $7.03B consensus. Comparable store used unit sales surged 13.0% YoY, and the company announced plans to resume share repurchases in Q3, signaling confidence in its turnaround strategy.
Key Financial Metrics
Key Facts
- Q2 FY2027 EPS of $1.16 vs consensus $0.73, a 58.9% beat
- Revenue of $7.88B vs consensus $7.03B, a 12.1% beat
- Comparable store used unit sales increased 13.0% YoY
- Total retail used unit sales increased 13.8% YoY
- Net earnings per diluted share of $1.16 vs $0.64 a year ago, up 81.3%
- CAF income increased 32.1% to $135.6M
- Company plans to resume share repurchases in Q3 FY2027
- SGA per total unit improved 8.8% to $1,621
- Total gross profit up 11.4% to $799.5M
- Wholesale units increased 15.9% YoY
Financial Impact
EPS surprise of +58.9% on consensus of $0.73; revenue beat of 12.1% on consensus of $7.03B
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Used vehicle sales | $6.3B | +19.7% |
| Wholesale vehicle sales | $1.4B | +18.2% |
| Other sales and revenues | $208.4M | +19.5% |
Risk Factors
- Gross profit per used unit continues to decline ($2,105 vs $2,216 a year ago) due to pricing actions
- Wholesale gross profit per unit declined $135 to $858
- CAF net penetration rate declined to 40.9% from 42.6% a year ago
- Allowance for loan losses increased to 3.07% of auto loans held for investment from 2.95% in Q1
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001170010-26-000102 |
| Document: kmx-20260929.htm | 0001170010-26-000102 |
| Document: 0001170010-26-000102-index-headers.html | 0001170010-26-000102 |
| Document: 0001170010-26-000102-index.html | 0001170010-26-000102 |
| Document: 0001170010-26-000102.txt | 0001170010-26-000102 |
| 8-K Data (Synthetic) | 0001170010-26-000102 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Press Release | $53.82 | awaiting T+5 | — | $52.62 (−2.23%) |
Oct 19, 2026 7d ago | 8-K | $53.82 | awaiting T+5 | — | $52.62 (−2.23%) |
Oct 8, 2026 18d ago | 3 | $52.61 $53.33 | ▲ +1.37% | ▲ +3.34% | $52.62 (+0.02%) |
Sep 29, 2026 27d ago | 8-K | $59.23 $55.29 | ▼ −6.65% | ▼ −8.60% | $52.62 (−11.16%) |
Aug 6, 2026 11w ago | Press Release | $58.06 $60.05 | ▲ +3.43% | ▲ +2.21% | $52.62 (−9.37%) |
Jun 26, 2026 17w ago | Insider Cluster | $53.15 $50.21 | ▼ −5.53% | ▼ −6.92% | $52.62 (−1.00%) |
Jun 24, 2026 17w ago | 8-K | $52.90 $51.82 | ▼ −2.04% | ▼ −3.60% | $52.62 (−0.53%) |
Jun 17, 2026 18w ago | 8-K | $47.43 $50.79 | ▲ +7.08% | ▲ +8.13% | $52.62 (+10.94%) |
May 12, 2026 23w ago | 8-K | $37.03 $36.27 | ▼ −2.04% | ▼ −0.88% | $52.62 (+42.12%) |
Apr 14, 2026 27w ago | 8-K | $41.52 $39.00 | ▲ +6.07% | ▲ +7.46% | $52.62 (−26.75%) |
US Market Status
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