CarMax outlines Shift into GEAR strategy, targets mid-teens adjusted EPS CAGR through FY2030
CarMax held a virtual Strategic Update on November 3, 2026, presenting a multi-year plan called Shift into GEAR and a financial framework through fiscal 2030. The company targets mid-single-digit used retail unit growth and mid-teens adjusted EPS growth, using fiscal 2026 adjusted EPS of $2.91 as the base, while maintaining a strong balance sheet and returning excess capital to shareholders. The filing contains targets rather than reported results, and it notes that Tier 2 lending expansion will pressure near-term auto finance income.
Key points
- Targets mid-single-digit used retail unit CAGR and mid-teens adjusted EPS CAGR through fiscal 2030, using fiscal 2026 as the base
- FY26 adjusted EPS of $2.91 is the base for the EPS CAGR target
- Company expects $200 million run-rate savings exiting fiscal 2027 and plans CapEx of about $500 million per year starting in fiscal 2028
- Tier 2 expansion is expected to pressure CarMax Auto Finance income in the near term due to upfront loss provisioning
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
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.