CarMax reported second-quarter fiscal 2026 revenue of $8.01 billion, beating analyst estimates of $7.41 billion and growing 6.2% year on year, while GAAP earnings per share of $1.31 exceeded the consensus of $0.94 by 38.8%. New CEO Keith Barr cautioned that the company's turnaround plan could take years to execute, adding to uncertainty and sending shares down 3.6% to $50.25 after the release. Same-store sales rose 3.8% year on year, a recovery from flat historical levels, but operating margin narrowed to 2.7% from 4.1% a year earlier. The company ended the quarter with 255 locations, up from 250 a year ago.
CarMax IncCEO cautioned turnaround could take years, spooking market despite revenue beat