CarMax (KMX) Stock News

CarMax (NYSE:KMX) will host a Strategic Update webcast on November 3, 2026, covering its strategy, growth priorities and multi-year financial framework. The webcast will run from 8:00 a.m. ET to approximately 9:30 a.m. ET. President and CEO Keith Barr, CFO Enrique Mayor-Mora and CarMax Auto Finance Executive Vice President Jon Daniels will present the update on the company’s Shift into GEAR strategy. Participants must register to view the webcast; an archived replay will be available shortly after it concludes.

CarMax (KMX) appointed Elizabeth Dirgins chief digital and customer officer effective October 5 and promoted Jeff Campbell to senior vice president of strategy.

Dirgins will serve as executive vice president in a new role overseeing marketing, product and Edmunds, including digital tools for online and in-store shopping. Campbell’s promotion took effect in August. He leads a newly centralized function combining strategy, data science, AI and pricing. Dirgins will report to CEO Keith Barr; Campbell will begin reporting to Barr in January 2027. CarMax plans a virtual strategy update for November 3.

CarMax (KMX) reported $7.9 billion in second-quarter fiscal 2027 revenue, alongside higher vehicle sales and diluted earnings. Revenue rose 19.5% from a year earlier, while diluted earnings per share increased to $1.16 from $0.64. Retail used sales grew 13.8% to 227,391 vehicles, and wholesale sales grew 15.9% to 160,344. Total gross profit rose 11.4% to $799.5 million, but gross profit per retail vehicle fell $111 to $2,105 and per wholesale vehicle fell $135 to $858.

CarMax Auto Finance income rose 32.1% to $135.6 million. Selling, general and administrative expenses rose 4.6% to $628.6 million, although expense per vehicle fell 8.8%. CarMax plans to resume modest share repurchases in its third fiscal quarter; $1.31 billion remained under its authorization as of August 31, 2026. The company targets $200 million in exit-rate expense savings by the end of fiscal 2027.

CarMax (KMX) will report financial results for the second quarter ended August 31, 2026 before market open on September 29, 2026, and will host an investor conference call at 8:00 a.m. ET that day to discuss the results.

Participants on the call will include President and CEO Keith Barr, Executive Vice President and CFO Enrique Mayor-Mora, and Executive Vice President, CarMax Auto Finance, Jon Daniels. The live call can be accessed by dialing (800) 225-9448 or (203) 518-9708 internationally with conference ID 3171396, or via audio webcast at investors.carmax.com. A webcast replay will remain available on the site through December 16, 2026, and a telephone replay will be offered for approximately one week.

CarMax (NYSE: KMX) released survey findings on Gen Alpha teens as the first of this generation turn 16 and approach getting a driver’s license. According to CarMax, 80% of Gen Alpha teens ages 14–16 already have or plan to get their license as soon as legally allowed, and 68% are excited about driving. Three-quarters view a license as a major life milestone, driven by desires for independence and less reliance on parents.

The survey shows 95% of these teens expect immediate access to a vehicle once licensed, with 40% expecting their family to purchase a car for them. Despite being digital natives, 86% believe it is important to see, sit in and test drive a vehicle before purchase. CarMax highlights its omnichannel model, with online research tools, tens of thousands of vehicles including over 25,000 priced under $25,000, no-haggle pricing, CarMax Certified quality, a 10-Day Money-Back Guarantee and a 30-day limited warranty to support families buying a first car.

CarMax (NYSE: KMX) has been named one of the 2026 PEOPLE® Companies That Care, ranking #70 and marking its seventh appearance on the list. The recognition, presented by PEOPLE and Great Place To Work®, is based on confidential employee survey data and company submissions.

CarMax highlights associate‑driven community engagement: in fiscal 2026, 100% of locations participated in volunteer programs and over 75% of associates joined at least one community program. Companywide walk/run events drew more than 12,000 associates and generated $100,000 in donations split between The Mission Continues and the CarMax Associate Disaster Relief Fund. CarMax operates more than 255 stores with approximately 28,000 associates and reported fiscal 2026 sales of about 780,000 used vehicles, 540,000 wholesale units, and $8 billion in auto loan originations.

CarMax (NYSE: KMX) is working with Sierra to enhance its inbound sales call experience using Sierra’s AI, voice-enabled agents, deployed in May 2026. The agents route callers to the right destination or associate more quickly and consistently, ask clarifying questions, answer common queries like store hours and vehicle availability, and hand off to CarMax associates when needed.

According to CarMax, since launch it has seen higher call resolution and fewer unresolved calls, and it plans to add appointment-management features. The company notes this partnership extends its longstanding use of AI, including its Skye virtual assistant and a car-shopping app in the ChatGPT app store.

CarMax (NYSE: KMX) has been named a 2026 honoree of The Civic 50 by Points of Light, recognizing it as one of the top 50 community-minded companies in the US.

In fiscal 2026, 100% of locations and over 75% of associates participated in community programs.

CarMax (NYSE:KMX) reported Q1 fiscal 2027 net revenues up 6.2% to $8.0 billion, with total vehicle units up 3.3% to 392,357 and EPS of $1.31 versus $1.38.

Used retail gross profit per unit fell $230 to $2,177, while SG&A fell 3.7% and SG&A per unit improved 6.8% to $1,619. Wholesale units rose 8.4% and revenues 14.0%. CarMax Auto Finance income was $140.2 million, down 1.0%, with penetration increasing to 43.3%. CEO Keith Barr introduced a four‑pillar Strategy for Growth focused on offering, experience, transaction value and running lean.