NYSE$KMX

CarMax Inc · Q3 2026 earnings

Q3 2026 earnings · · Before market open · Investor relations

Briefing

CarMax reported Q3 2026, revenue of $4.55B, net income of $62.2M.

For Q3 2026, CarMax reported revenue of $4.55B, net income of $62.2M. Management discusses segment performance, capital allocation, and outlook in the earnings filing.

  • Revenue $4.55B.
  • Net income $62.2M.
  • CarMax highlights liquidity, operations, and 2026 priorities.

Headline financials

Total Revenue

$5.79B

Previous: $6.22B-6.9%
EPS (adj)

$0.43

Previous: $0.81-46.9%
Wholesale vehicle unit sales

127.6K

Previous: 136.0K-6.2%
Used vehicle avg selling price

$26.4K

Previous: $26.2K+0.9%
Wholesale vehicle avg selling price

$8.14K

Previous: $8.18K-0.5%
Used vehicle gross profit

$379M

Previous: $425M-10.8%
Wholesale vehicle gross profit

$115M

Previous: $138M-16.9%
Wholesale gross profit per unit

$899.00

Previous: $1.02K-11.4%
Other gross profit

$96.3M

Previous: $115M-16.0%
Vehicles bought from consumers and dealers

238.0K

Previous: 269.6K-11.7%
Vehicles bought from consumers

208.0K

Previous: 236.7K-12.1%
Vehicles bought through dealers

30.0K

Previous: 32.9K-8.7%
CAF income

$175M

Previous: $160M+9.3%
Used vehicle unit sales

169.6K

Previous: 184.2K-8.0%
Used vehicle gross profit per unit

$2.24K

Previous: $2.31K-3.1%
Capital Expenditures

-$408M

Previous: -$340M-19.9%
Free Cash Flow

-$346M

Previous: -$215M-60.9%
Net Income

$62.2M

Previous: $125M-50.4%
Operating Income

-$60.1M

Previous: $23.4M-357.1%
Gross Profit

$590M

Previous: $678M-12.9%
Cash & Equivalents

$205M

Previous: $272M-24.6%
Total Assets

$25.6B

Previous: $27.3B-6.4%

Revenue & EPS history

CarMax · Revenue · Quarterly

$5.79B

Q3 2026-6.9%vs Q3 2025
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

CarMax · $8.01B total across 3 segments · Q1 2027

  • Used vehicle sales
    $6.39B
  • Wholesale vehicle sales
    $1.43B
  • Other sales and revenues
    $195M

Forward guidance

The release discusses CarMax's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • CarMax cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q3 2026

Historical avgQ3 2026

-1.7%

Avg return

Earnings day

-2.7%

Avg return

5 days after

+0.4%

Avg return

30 days after

41%

28 / 69 earnings

Positive

+14.6%

Q1 2015

Best reaction

-23.6%

Q2 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2027-8.5%
Q4 2026-3.4%-16.7%-23.0%
Q3 2026-4.5%-6.4%+18.9%
Q2 2026-19.9%-21.3%-22.4%
Q1 2026-3.4%-4.0%-10.8%
Q4 2025-17.0%-15.4%-17.4%
Q3 2025+3.5%+4.3%-3.0%
Q2 2025+3.8%+4.9%-3.3%
Q1 2025+2.6%+1.9%+12.1%
Q4 2024-9.9%-12.0%-9.6%
Q3 2024+2.5%+2.0%-7.4%
Q2 2024-11.2%-13.4%-24.1%
Q1 2024+3.7%+7.7%+6.3%
Q4 2023+4.1%+5.5%+9.7%
Q3 2023+1.3%+1.8%+11.3%
Q2 2023-23.6%-20.8%-26.2%
Q1 2023+7.5%+2.0%+2.8%
Q4 2022-9.9%-11.0%-11.5%
Q3 2022-7.8%-6.9%-21.1%
Q2 2022-13.2%-13.8%-6.5%
Q1 2022+8.0%+8.1%+12.9%
Q4 2021-3.5%-4.8%+0.4%
Q3 2021-7.2%-8.1%+19.7%
Q2 2021-11.2%-12.1%-14.1%
Q1 2021-4.0%-8.6%-3.0%
Q4 2020-7.2%+10.8%+35.7%
Q3 2020-9.7%-10.1%-3.1%
Q2 2020-0.9%+0.7%+9.5%
Q1 2020-0.4%+1.4%+2.2%
Q4 2019+8.5%+11.8%+22.4%
Q3 2019+4.1%+10.3%+9.2%
Q2 2019-2.7%-2.9%-7.7%
Q1 2019+8.0%+4.6%+8.6%
Q4 2018+3.8%-2.0%+8.3%
Q3 2018-4.7%-4.3%+3.1%
Q2 2018+7.9%+9.5%+9.2%
Q1 2018+5.5%+7.0%+11.5%
Q4 2017-0.3%+1.0%+5.4%
Q3 2017+5.8%+2.7%+6.6%
Q2 2017-2.5%-3.9%-10.2%
Q1 2017-8.2%-8.5%+13.7%
Q4 2016-4.3%
Q3 2016-8.1%
Q2 2016-5.3%
Q1 2016-5.5%
Q4 2015+8.1%
Q3 2015+12.1%
Q2 2015-8.2%
Q1 2015+14.6%
Q4 2014-8.2%
Q3 2014-10.6%
Q2 2014-0.4%
Q1 2014-1.3%
Q4 2013+8.4%
Q3 2013+8.5%
Q2 2013-8.4%
Q1 2013-7.8%
Q4 2012+1.2%
Q4 2009+1.2%
Q3 2012+2.0%
Q2 2012+7.1%
Q1 2011-3.9%
Q1 2012-3.9%
Q4 2011+4.4%
Q3 2011+2.3%
Q3 2010+2.3%
Q2 2010-0.7%
Q4 2010-0.7%
Q2 2011-0.7%

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