{"schema_version":"secwatch.filing_event.v1","accession":"0001170010-26-000053","form_type":"8-K","ticker":"KMX","cik":"0001170010","company_name":"CARMAX INC","filed_at":"2026-06-17T10:54:07+00:00","discovered_at":"2026-06-17T10:55:00.382648+00:00","generated_at":"2026-06-17T10:55:28.371630+00:00","sec_items":["2.02","2.03","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"CarMax Q1 net earnings $185.6M ($1.31/diluted); revenue up 6.2% to $8.0B; new strategic framework announced","bullets":["Net earnings $185.6M ($1.31 diluted EPS) vs $210.4M ($1.38) a year ago; revenue up 6.2% to $8.0B.","Combined retail+wholesale units 392,357 (+3.3%); retail used units flat; wholesale units +8.4%.","Retail used gross profit per unit $2,177 (down $230 from record); wholesale GP per unit $1,046 (in line).","SG&A down 3.7% to $635.2M; per total unit improved 6.8% to $1,619; on track for $200M exit rate savings by FY27 end.","Entered $500M term loan with MUFG, matures June 2029; proceeds used to pay down revolver and for general purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0001170010-26-000053","json":"https://secwatch.observer/filing/0001170010-26-000053.json","markdown":"https://secwatch.observer/filing/0001170010-26-000053.md","text":"https://secwatch.observer/filing/0001170010-26-000053.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1170010/000117001026000053/0001170010-26-000053-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1170010/000117001026000053/kmx-20260617.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T10:55:28.371630+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"443669a2385db786fc1253a0b3ec9cce207287b1","claim":"CARMAX INC incurred term loan of $500,000,000 with MUFG Bank, Ltd. at Daily SOFR rate or a Base Rate, plus an applicable margin maturing June 15, 2029.","evidence_excerpt":"On June 15, 2026, CarMax, Inc. (the “Company”) and CarMax Auto Superstores, Inc. (“CASI” or the “Borrower”) entered into a term loan credit agreement (the “Credit Agreement”) with MUFG Bank, Ltd. (“MUFG”), as lender and as administrative agent, and the other lenders party thereto. The Credit Agreement provides for a term loan facility under which the Borrower has borrowed term loans in an aggregate principal amount of $500,000,000 (the “Term Loan Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1170010/000117001026000053/0001170010-26-000053-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$500,000,000"},{"label":"Counterparty","value":"MUFG Bank, Ltd."},{"label":"Rate","value":"Daily SOFR rate or a Base Rate, plus an applicable margin"},{"label":"Maturity","value":"June 15, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"801fecd0da73870c8519bf1ec6128ab63cc7ba15","claim":"CARMAX INC reported first quarter ended May 31, 2026 results: revenue $8.0 billion, EPS $1.31.","evidence_excerpt":"strategic framework with the objective of delivering strong unit and earnings growth that enables CarMax to consistently reward shareholders. • Net revenues rose 6.2% to $8.0 billion. • Combined retail and wholesale unit sales of 392,357, an increase of 3.3%. • Retail used unit sales increased slightly and comparable store used unit sales declined 0.8%; gross","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1170010/000117001026000053/0001170010-26-000053-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended May 31, 2026"},{"label":"Revenue","value":"$8.0 billion"},{"label":"EPS","value":"$1.31"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}