CARMAX INC — Form 8-K
Filed September 29, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 58/100
What the filing says
CarMax reported Q2 FY2027 (ended Aug 31, 2026) net earnings of $165.3M vs $95.4M YoY, with diluted EPS of $1.16 vs $0.64 (+81.3%). Total net revenues rose 19.5% to $7.9B. Combined retail and wholesale unit sales increased 14.7% to 387,735 units. Retail used vehicle gross profit per unit declined $111 to $2,105 due to pricing actions. CarMax Auto Finance income surged 32.1% to $135.6M, with CAF financing 22% of Tier 2 originations. The company announced plans to resume modest share repurchases in Q3 FY2027, with $1.31B remaining under authorization.
Why this rating
Strong earnings recovery and operational momentum (19.5% revenue growth, 81% EPS growth) is meaningful for a $9.1B company. Q2 shows strategy execution gains. However, margin compression on core retail units ($111/unit decline) and CAF receivables down $1.2B YoY temper trajectory. Buyback resumption modest. Financially material but not transformational.
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