---
schema_version: "secwatch.filing_event.v1"
accession: "0001170010-23-000008"
form_type: "8-K"
ticker: "KMX"
cik: "0001170010"
company_name: "CARMAX INC"
filed_at: "2023-04-11T23:59:59+00:00"
generated_at: "2026-06-17T03:29:30.068163+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# CarMax Q4 net earnings down 57% to $0.44 EPS; revenue falls 25.6% to $5.7B

## Summary
- Q4 net earnings $69M ($0.44 diluted EPS) vs $159.8M ($0.98) a year ago; FY23 EPS $3.03, down 56.5%.
- Revenue $5.7B, down 25.6% YoY; retail used units sold 169,884 (-12.6%), comparable store sales -14.1%.
- CAF income fell 36.1% to $123.9M on net interest margin compression and $98M provision for loan losses.
- Total gross profit $611M, down 14.1%; SG&A reduced 7.7% to $572.8M through cost management.
- No share repurchases in Q4; capacity remains $2.45B; FY24 capex planned at ~$450M with 5 new stores.

## SEC filing metadata
- accession: 0001170010-23-000008
- form_type: 8-K
- ticker: KMX
- cik: 0001170010
- company_name: CARMAX INC
- filed_at: 2023-04-11T23:59:59+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/1170010/000117001023000008/0001170010-23-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1170010/000117001023000008/kmx-20230411.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001170010-23-000008
- JSON: https://secwatch.observer/filing/0001170010-23-000008.json
- Plain text: https://secwatch.observer/filing/0001170010-23-000008.txt

## Key facts
- Earnings Releases
  CARMAX INC reported financial results for the fourth quarter and fiscal year ended February 28, 2023.
  - Period: the fourth quarter and fiscal year ended February 28, 2023
  - Result: reported results
  source text: CarMax, Inc. (the “Company”) issued a press release on April 11, 2023, announcing its fourth quarter and fiscal year 2023 results. The press release is being furnished as Exhibit 99.1 hereto and is incorporated by reference into this Item 2.02.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1170010/000117001023000008/0001170010-23-000008-index.htm

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