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AI brief of an SEC Form 8-K · CarMax (KMX)

CarMax Q2 earnings per share fall to $0.64 from $0.85 on lower used unit sales

Negative Impact 4 of 5 earnings Written later

CarMax reported second quarter fiscal 2026 results for the period ended August 31, 2025. Net earnings fell 28.2% to $95.4 million, and diluted earnings per share were $0.64 versus $0.85 a year earlier, as retail used unit sales declined 5.4% and the CarMax Auto Finance loan loss provision rose. The company also set plans for at least $150 million in SG&A reductions over the next 18 months.

Key points

  • Net earnings were $95.4 million versus $132.8 million a year earlier; diluted EPS was $0.64 versus $0.85.
  • Retail used unit sales fell 5.4% to 199,729 units, and total gross profit decreased 5.6% to $717.7 million.
  • CarMax Auto Finance provision for loan losses rose to $142.2 million from $112.6 million, and CAF income fell 11.2% to $102.6 million.
  • The company established plans for SG&A reductions of at least $150 million over the next 18 months and repurchased $180.0 million of shares in the quarter.

The filing

CompanyCarMax (KMX)
Form8-K, current report
Filed with the SECSep 25, 2025, 7:07 AM ET
Accession number0001170010-25-000115

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 25, 2025.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.