Quarterly ResultJun 17, 2026, 07:01 AM
CarMax Q1 Revenue $8.0B (+6.2%); EPS $1.31
AI Summary
CarMax reported first quarter fiscal 2027 results with net revenues up 6.2% to $8.0 billion and combined retail and wholesale unit sales up 3.3%. However, comparable store used unit sales declined slightly, and gross profit per retail used unit decreased by $230. The company also announced a new four-pillar strategy for growth focused on offering, experience, value, and efficiency. Additionally, CarMax entered into a $500 million term loan credit agreement.
Key Highlights
- CarMax reported Q1 FY2027 net revenues of $8.0 billion, a 6.2% increase year-over-year.
- Combined retail and wholesale unit sales increased 3.3% to 392,357 units.
- Retail used unit sales increased slightly, but comparable store used unit sales declined 0.8%.
- Gross profit per retail used unit was $2,177, down $230 from the prior year's record.
- Wholesale units increased 8.4%, with gross profit per unit at $1,046, in line with the prior year.
- SG&A expenses decreased 3.7% to $635.2 million, with SG&A per total unit improving by $118.
- CarMax Auto Finance (CAF) penetration expanded to 43.3%, and CAF income was $140.2 million.
- Net earnings per diluted share were $1.31, down from $1.38 in the prior year.
Price Impact
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