CarMax reports Q1 revenue up 6.2% but EPS falls to $1.31; new CEO unveils four-pillar strategy

Filed June 17, 2026 · Period ending June 17, 2026 · ~1 min read

Key Changes

• high

  Q1 FY2027 revenue rose 6.2% to $8.0 billion with unit sales up 3.3%, but EPS declined from $1.38 to $1.31 as gross profit per retail used unit fell $230 to $2,177 due to pricing actions to drive sales volume.

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• high

  New CEO Keith Barr introduced a four-pillar strategic framework targeting unit and earnings growth through competitive offering, seamless experience, transaction value maximization, and cost structure reimagination; strategic update planned for late Fall.

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• medium

  SG&A expenses decreased 3.7% to $635.2 million, improving $118 per unit; company on track to achieve $200 million in exit rate SG&A savings by end of fiscal 2027.

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