CarMax Q3 EPS $0.43 vs $0.81; CEO replaced; retail units down 8%

CARMAX INC

2026-Q3 EPS reported $2.46 revenue$19,935,171,000

David McCreight named Interim President and CEO; Tom Folliard named Interim Executive Chair. Search for permanent CEO underway.
Q3 EPS $0.43 vs $0.81 YoY; net earnings $62.2M, down 50%; revenue $5.79B, down 6.9%.
Retail used unit sales down 8.0% (comparable store -9.0%); gross profit per retail unit $2,235, down $71 from record.
SG&A up 1% to $581.4M incl. restructuring; on track for $150M exit rate savings by end FY2027.
Repurchased $201.6M in shares; CAF income up 9.3% to $174.7M, boosted by $27M gain on securitization.

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