CarMax

KMX

Market cap $5.91B

Using technology to streamline the buying and selling of cars is on the agenda at CarMax, as the used car retailer prepares a new strategic plan under the leadership of a new CEO.

CarMax beat on earnings this morning -- sort of. Non-GAAP profits were better than expected, but according to GAAP, CarMax actually lost money in Q4.

The retailer got booted off the S&P 500 late last year.

CarMax, Inc. remains a Buy in the low $40s, with a fair value of ~$50, offering 15%+ upside despite near-term headwinds. KMX faces margin compression from weak used car pricing, higher loan loss provisions, and a strategic shift toward Tier 2 borrowers in its financing arm. Cost-cutting initiatives, paused buybacks, and conservative guidance position KMX for improved cash flow and potential EPS recovery in fiscal 2028.

CarMax, Inc. (KMX) Q4 2026 Earnings Call Transcript

The headline numbers for CarMax (KMX) give insight into how the company performed in the quarter ended February 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

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CarMax (KMX) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.64 per share a year ago.

Used car retailer CarMax reported a fourth-quarter loss on Tuesday, hurt by a goodwill impairment charge and ​shrinking margins from used vehicles.

CarMax swung to a loss as it implements a turnaround strategy that has included price cuts to reestablish its place in the used-car market.