Q1 26 EPS
$1.38
BEAT +18.29%
Est. $1.17
Q1 26 Revenue
$7.55B
BEAT +0.20%
Est. $7.53B
vs S&P Since Q1 26
-49.1%
TRAILING MARKET
KMX -25.7% vs S&P +23.4%
Market Reaction
Did KMX Beat Earnings? Q1 2026 Results
CarMax opened fiscal 2026 with its strongest earnings performance in years, posting first-quarter diluted EPS of $1.38, an 18.29% beat against the $1.17 consensus estimate, while revenue of $7.55 billion edged past expectations by 0.20%, even as the … Read more CarMax opened fiscal 2026 with its strongest earnings performance in years, posting first-quarter diluted EPS of $1.38, an 18.29% beat against the $1.17 consensus estimate, while revenue of $7.55 billion edged past expectations by 0.20%, even as the top line slipped a modest 0.3% year over year. The headline driver was a broad-based volume recovery, with retail used vehicle unit sales climbing 9.0% to 230,210 units and comparable store used unit sales rising 8.1%, the largest jump in nearly four years, as Trump's automobile tariffs steered cost-conscious buyers toward the used market. Unit economics reinforced the story: retail gross profit per unit reached an all-time high of $2,407, helping lift total gross profit 12.8% to $893.60 million, while SG&A discipline held expense growth to just 3.3% despite surging volume. Looking ahead, CarMax expects continued market share gains and meaningful year-over-year earnings growth, supported by an expanding non-prime funding program designed to broaden full-spectrum penetration while carefully managing credit exposure.
Key Takeaways
- • Retail used unit sales increased 9.0% with comparable store used unit sales up 8.1%
- • Record high gross profit per retail used unit of $2,407, up $60 per unit
- • SG&A leverage of 680 basis points improvement as a percent of gross profit
- • Other gross profit increased 31.3% driven by service margin improvements and EPP revenue growth
- • Service margin per retail unit improved by $128 to $143 per unit
- • Digital capabilities supported 80% of retail unit sales
- • Dealer vehicle purchases surged 38.4% year-over-year
KMX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
KMX Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered our fourth consecutive quarter of positive retail comps and double-digit year-over-year earnings per share growth. These results highlight the strength of our earnings growth model, which is underpinned by our best-in-class omni-channel experience, the diversity of our business, and our sharp focus on execution.”
— Bill Nash, Q1 2026 Earnings Press Release
KMX Earnings Trends
KMX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
KMX EPS Trend
Earnings per share: estimate vs actual
KMX Revenue Trend
Quarterly revenue: estimate vs actual
KMX Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.94 | $1.31 | +38.77% | $8.01B | +8.01% |
| Q4 26 BEAT FY | $0.22 | $0.34 | +51.92% | $5.95B | +3.84% |
| FY Full Year | $2.68 | $2.91 | +8.40% | $25.88B | +1.06% |
| Q3 26 BEAT | $0.32 | $0.43 | +36.08% | $5.79B | +2.87% |
| Q2 26 MISS | $1.03 | $0.64 | -38.07% | $6.59B | -6.07% |
| Q1 26 BEAT | $1.17 | $1.38 | +18.29% | $7.55B | +0.20% |
| Q4 25 MISS FY | $0.66 | $0.58 | -11.91% | $6.00B | +0.49% |
| FY Full Year | $3.28 | $3.21 | -2.21% | $26.35B | +0.05% |