In the fourth quarter, the company recorded adjusted earnings of $0.34 per share, surpassing the analyst estimate of $0.21. This figure was lower than the $0.64 per share reported a year earlier.
CarMax generated revenue of $5.95 billion, exceeding the analyst estimate of $5.68 billion. However, this was a decline from the $6 billion reported in the same period last year.
The quarter saw combined retail and wholesale used vehicle unit sales increase by 0.7 percent to 303,969. Retail used vehicle unit sales fell by 0.8 percent to 181,188, while comparable store used unit sales decreased by 1.9 percent.
Wholesale vehicle unit sales rose by 3.0 percent to 122,781, although total wholesale revenues saw a slight decline of 0.1 percent. Total gross profit for the quarter was $605.3 million, down 9.4 percent from last year.
For fiscal 2027, CarMax plans to open four new stores, two stand-alone reconditioning/auction centers, and two stand-alone auction facilities.
Keith Barr, President and Chief Executive Officer, said, “We are moving with urgency to improve execution, drive efficiencies, and sharpen our customer offering. We will make CarMax the obvious choice for customers through competitive pricing, access to a large selection of high-quality vehicles, and an exceptional end-to-end customer experience.”
