secwatch.observer — SEC 8-K summary
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Issuer:     CARMAX INC (KMX)
CIK:        0001170010
Form:       8-K
Filed at:   2025-12-18T23:59:59+00:00
Accession:  0001170010-25-000129
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1170010/000117001025000129/0001170010-25-000129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1170010/000117001025000129/kmx-20251218.htm
  HTML page:      https://secwatch.observer/filing/0001170010-25-000129

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