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U.S. equities were mixed at midday as uncertainty about the fighting between Israel and Iran led investors to be cautious ahead of the weekend. The Nasdaq fell, the Dow Jones Industrial Average rose, and the S&P 500 was little changed.
CarMax delivered a strong Q1 beat, driven by higher volumes and record margins, but some gains may be temporary due to tariff pull-forward. Financing profits remain pressured by rising credit losses, and I expect ongoing provisioning to weigh on future earnings. CarMax shares now trade near my fair value target, reflecting a balanced risk/reward after recent underperformance and improved cost controls.
Here's our initial take on CarMax's (KMX 5.74%) fiscal 2026 first-quarter financial report.
CNBC's Phil Lebeau joins 'Squawk on the Street' with the latest details on CarMax's earnings.
CarMax (KMX 6.71%) reported Q1 FY2026 earnings on June 20, 2025, with total sales rising 6% year over year to $7.5 billion, used unit comps up 8.1%, and record diluted EPS of $1.38, up 42% year over year. Management accelerated the share repurchase pace, advanced omnichannel and artificial intelligence (AI)-driven efficiency gains, and earmarked a $632 million principal balance of non-prime auto loans for a risk-mitigating securitization.
CarMax (KMX) shares gained Friday as the largest U.S. used car retailer posted better-than-expected profit as sales of retail vehicles increased even as prices declined.
Used-car stock CarMax Inc (NYSE:KMX) is up 3.2% at $66.41, after the company's better-than-expected first-quarter earnings and revenue results.
CarMax logged higher profit and sales in its latest quarter as tariff uncertainty sparked an uptick in demand for used cars.
Although the revenue and EPS for CarMax (KMX) give a sense of how its business performed in the quarter ended May 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
CarMax Inc (NYSE:KMX) shares jumped 8% in early trade as the used car retailer's fiscal first quarter earnings report impressed investors. The company's earnings per share increased 42.3% year-over-year to $1.38, ahead of the Wall Street consensus of $1.19.