---
schema_version: "secwatch.filing_event.v1"
accession: "0001170010-25-000129"
form_type: "8-K"
ticker: "KMX"
cik: "0001170010"
company_name: "CARMAX INC"
filed_at: "2025-12-18T23:59:59+00:00"
generated_at: "2026-05-16T12:42:35.900268+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001170010-25-000129
- form_type: 8-K
- ticker: KMX
- cik: 0001170010
- company_name: CARMAX INC
- filed_at: 2025-12-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1170010/000117001025000129/0001170010-25-000129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1170010/000117001025000129/kmx-20251218.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001170010-25-000129
- JSON: https://secwatch.observer/filing/0001170010-25-000129.json
- Plain text: https://secwatch.observer/filing/0001170010-25-000129.txt

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