CarMax (KMX) is trading higher as the market looks ahead to its fiscal fourth-quarter 2026 earnings report scheduled for Tuesday, April 14, 2026. The stock has also been supported by a shifting tone in pre-earnings analyst commentary that highlights signs of sequential improvement in used-vehicle sales trends, encouraging dip-buying after a choppy stretch for the shares.

A key debate into the print is whether retail used-unit comparable sales have continued to improve from weaker levels earlier in the fiscal year. Ahead of the report, recent analyst previews have argued that used-unit trends may be tracking better sequentially than the prior quarter, which would ease fears that demand is deteriorating and refocus attention on execution and margin stabilization.

Investors will be listening for details on vehicle pricing discipline, marketing intensity, and the pace of expense actions—along with updates on credit performance at CarMax Auto Finance. With expectations sensitive to any signs of stabilization, management commentary on demand, affordability, and credit will likely determine whether today’s optimism extends beyond the earnings event.