CarMax (KMX) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Sep 29, 2026

Before Open (Confirmed)

Period Ending

2027 (Q2)

Consensus EPS Forecast

0.69

Last Year’s EPS

0.64

Same Quarter Last Year

Analyst Consensus

Hold

Based on 13 Analysts Ratings

Earnings Call Summary

Q1 2027

Earnings Call Date:Jun 17, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presents a balanced picture: the company delivered revenue and unit growth, improved several operating trends (CAF penetration, NIM, SG&A per unit leverage), and laid out a clear four-pillar strategy with measurable targets (EPP incremental margin, $200M exit-rate savings). However, meaningful margin headwinds remain — total gross profit and used retail margins declined, EPS dipped, and reconditioning/operational improvements are still ramping. Management emphasized they are taking deliberate margin concessions to regain share while investing in efficiency to self-fund pricing competitiveness. Progress is evident, but key profit and operational initiatives must continue to mature.

Company Guidance

Management reaffirmed a path to stronger FY‑2027 profitability and efficiency, saying they remain on track for exit‑rate SG&A savings (management cited an increased target toward $200 million from a prior $150–$200M range), will pursue more dynamic GPU management (Q1 GPU cuts were smaller than the prior ~$300/unit near‑term guidance while management referenced targeting roughly a ~$200/unit year‑over‑year GPU reduction for the year but with quarter‑to‑quarter flexibility), and expect to drive about $35 of incremental EPP margin per unit in FY‑2027 while continuing CAF full‑spectrum expansion toward a ~50% mid‑term penetration goal; supporting metrics from Q1 include total sales of $8.0B (+6.2% YoY) on ~392k vehicles sold (+3.3%), retail ASP $27,288 (+$1,168), EPS $1.31, total gross profit $854M (−4%), used retail margin $501M (−10%) and profit per used unit $2,177 (−$230), wholesale margin $169M (+8%) with avg wholesale price $8,364 (+$405), SG&A $635M (−4%) or $1,619 per unit (levered $118/unit, −7%), CAF originations $2.4B with 43.3% sales penetration (+150 bps), CAF income $140M, loan‑loss provision $96M, reserves $475M (2.95% of managed receivables) and a CAF net interest margin of 6.7% (+20 bps).

Revenue Growth

Total sales of $8.0 billion, up 6.2% year-over-year, driven by more competitive pricing, stronger acquisition marketing, and initial progress on new strategic initiatives.

Unit Sales Improvement

Combined retail and wholesale vehicles sold approximately 392,000 units, up 3.3% year-over-year; retail unit sales grew slightly despite a marginal used unit comp decline of 0.8%.

Average Selling Price (ASP) Increase

Average selling price rose to $27,288, an increase of $1,168 per unit year-over-year, reflecting acquisition costs and favorable mix toward younger vehicles.

Wholesale Strength

Wholesale unit sales increased 8.4% year-over-year; average wholesale selling price rose $405 to $8,364 and wholesale vehicle margin increased 8% versus prior year.

SG&A Reductions and Efficiency Progress

SG&A declined to $635 million, down 4% year-over-year; SG&A per unit leveraged by $118 (7%) to $1,619. Company on track to deliver $200 million exit-rate savings target for FY2027.

CarMax Auto Finance (CAF) Penetration Growth

CAF originated $2.4 billion and achieved sales penetration of 43.3% (net of three-day payoffs), up 150 basis points year-over-year; CAF was the largest Tier 2 lender in the quarter.

CAF Credit and Funding Metrics

CAF net interest margin improved to 6.7% (up 20 basis points year-over-year); loan loss provision declined to $96 million from $102 million; total reserve balance $475 million (2.95% of managed receivables).

Product and Margin Initiatives (EPP and Pricing)

National rollout of redesigned Extended Protection Plan (EPP) in progress with modest unit margin growth in Q1 and an FY2027 target to drive approximately $35 incremental EPP margin per unit; pricing algorithms being enhanced with granular local market data to improve competitiveness.

CarMax (KMX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KMX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 29, 2026	2027 (Q2)	0.69 / -	0.64	―	―	―
Jun 17, 2026	2027 (Q1)	0.96 / 1.31	1.38	-5.07% (-0.07)
Apr 14, 2026	2026 (Q4)	0.23 / 0.34	0.58	-41.38% (-0.24)
Dec 23, 2025	2026 (Q3)	0.31 / 0.43	0.81	-46.91% (-0.38)
Sep 26, 2025	2026 (Q2)	1.04 / 0.64	0.85	-24.71% (-0.21)
May 31, 2025	2026 (Q1)	1.16 / 1.38	0.97	42.27% (+0.41)	―
Apr 10, 2025	2025 (Q4)	0.66 / 0.58	0.32	81.25% (+0.26)	―
Dec 19, 2024	2025 (Q3)	0.62 / 0.81	0.52	55.77% (+0.29)	―
Sep 26, 2024	2025 (Q2)	0.85 / 0.85	0.75	13.33% (+0.10)	―
Jun 21, 2024	2025 (Q1)	0.95 / 0.97	1.44	-32.64% (-0.47)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

KMX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 17, 2026	$52.11	$47.43	-8.98%
Apr 14, 2026	$49.08	$41.66	-15.12%
Dec 23, 2025	$38.15	$38.45	+0.79%
Sep 26, 2025	$45.60	$44.86	-1.62%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.