CarMax delivered adjusted Q1 EPS of $1.31, surpassing forecasts by $0.35, as revenue climbed 6.2% to $8.0 billion. Unit sales rose 3.3% to 392,357 vehicles, while SG&A expenses fell 3.7% to $635.2 million and finance penetration expanded 150 basis points to 43.3%.
CarMax reported adjusted Q1 EPS of $1.31, beating estimates by $0.35, and generated revenue of $8.0 billion, a 6.2% year-over-year increase. Combined retail and wholesale unit sales climbed 3.3% to 392,357 vehicles, with retail used sales reaching 230,293 units.
The company’s new four-pillar growth strategy—competitive pricing, seamless customer experience, transaction value maximization, and cost reduction—has driven early performance improvements and supports scalable operations.
SG&A expenses declined 3.7% to $635.2 million, with SG&A per unit falling $118 to $1,619, keeping CarMax on track for targeted exit-rate savings of $200 million by fiscal 2027.
Auto finance penetration rose 150 basis points to 43.3%, with CAF income of $140.2 million, while wholesale unit sales increased 8.4% to 162,064 vehicles and gross profit per wholesale unit remained at $1,046.
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