---
schema_version: "secwatch.filing_event.v1"
accession: "0001170010-22-000102"
form_type: "8-K"
ticker: "KMX"
cik: "0001170010"
company_name: "CARMAX INC"
filed_at: "2022-12-22T23:59:59+00:00"
generated_at: "2026-06-20T23:51:06.593104+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CarMax Q3 FY2023 EPS $0.24 (down 85%); revenue $6.5B (-24%); used units -21%; wholesale -37%; pauses buybacks

## Summary
- Net earnings per diluted share $0.24 vs $1.63 a year ago; net earnings $37.6M, down 86%.
- Net revenues $6.5B, down 23.7%; used vehicle units sold 180K (-20.8%), comparable store sales -22.4%.
- Wholesale units 118,757, down 36.7%; wholesale GP per unit $966 vs $1,131; bought 238K vehicles (-39.8%).
- CAF income $152.2M (-8.3%); provision for loan losses rose to $85.7M from $76.2M; weighted avg contract rate 9.8% up from 8.3%.
- Fiscal 2023 capex forecast reduced to ~$450M from $500M; share repurchases paused after $2.6M in Q3.

## SEC filing metadata
- accession: 0001170010-22-000102
- form_type: 8-K
- ticker: KMX
- cik: 0001170010
- company_name: CARMAX INC
- filed_at: 2022-12-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1170010/000117001022000102/0001170010-22-000102-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1170010/000117001022000102/kmx-20221222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001170010-22-000102
- JSON: https://secwatch.observer/filing/0001170010-22-000102.json
- Plain text: https://secwatch.observer/filing/0001170010-22-000102.txt

## Key facts
- Earnings Releases
  CARMAX INC reported third quarter ended November 30, 2022 results: revenue $6.5 billion, EPS $0.24.
  - Period: third quarter ended November 30, 2022
  - Revenue: $6.5 billion
  - EPS: $0.24
  - Result: reported results
  source text: Net revenues of $6.5 billion, down 23.7% compared with the prior year third quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1170010/000117001022000102/0001170010-22-000102-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.