CarMax Q2 EPS $0.64 vs $0.85 prior year; revenue down 6% to $6.59B; retail used units -5.4%

CARMAX INC

2026-Q2 EPS reported $2.02 revenue$14,141,225,000

Net earnings of $95.4M ($0.64 diluted) vs $132.8M ($0.85) a year ago; revenue fell 6.0% to $6.59B.
Comparable store used unit sales declined 6.3%; gross profit per retail used unit $2,216 in line with prior year.
SG&A down 1.6% to $601.1M; plans for at least $150M incremental SG&A reductions over next 18 months.
CAF income fell 11.2% to $102.6M as provision for loan losses rose to $142.2M (vs $112.6M); allowance 3.02% of loans.
Post-quarter closed $900M non-prime securitization (off-balance sheet); expects ~$25-30M gain on sale in Q3.

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