Quarterly ResultJun 24, 2026, 11:16 AM
CarMax Q1 Net Earnings Down 11.8% to $185.6M; EPS $1.31
AI Summary
CarMax reported mixed results for Q1 2027, with net sales increasing by 6.2% to $8.01 billion. However, net earnings decreased by 11.8% to $185.6 million, resulting in diluted EPS of $1.31, down from $1.38 in the prior year. Gross profit also declined by 4.4% to $854.4 million. The company saw a significant decrease in net cash provided by operating activities and an increase in its allowance for loan losses, reflecting a shift in credit mix.
Key Highlights
- Net Sales and Operating Revenues rose 6.2% to $8.01 billion.
- Net Earnings decreased 11.8% to $185.6 million.
- Diluted Earnings Per Share fell to $1.31 from $1.38.
- Gross Profit declined 4.4% to $854.4 million.
- CarMax Auto Finance income was $140.2 million, down 1.0%.
- Net cash from operating activities decreased to $17.6 million.
- Allowance for loan losses increased to $475.0 million.
Price Impact
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