Key Highlights

● CarMax reported fiscal second-quarter Earnings of $1.16 a share on Tuesday, September 29, 2026, far ahead of consensus estimates.

● Revenue came to about $7.9 billion for the quarter, comfortably ahead of analyst estimates of roughly $7 billion.

● Retail used-unit sales rose strongly and used-vehicle margins recovered, driving the beat across the quarter.

● The company said it would resume share repurchases in the fourth quarter as its shares ranked among S&P 500 gainers.

CarMax, Inc. (NYSE:KMX) delivered a clear earnings beat on Tuesday, September 29, 2026. The used-car retailer reported fiscal second-quarter results before the opening bell that sailed past analysts' forecasts, and the shares jumped, ranking among the day's notable gainers in the S&P 500.

A Large Profit Beat

Earnings per share were $1.16. Consensus estimates were cited at $0.68, $0.73 or $0.75, depending on the source, so CarMax earned at least one and a half times what Wall Street expected. Revenue came to about $7.9 billion, ahead of estimates of roughly $7 billion, and was up sharply from a year earlier. The company also said it would resume share repurchases in the fourth quarter.

Used-Car Volume Leads

The engine behind the beat was volume. Retail used-unit sales rose strongly in the quarter, and used-vehicle margins recovered. For a Business that depends on moving large numbers of cars through its stores and online channels, faster unit growth with healthier margins is a favorable mix. Chief Executive Keith Barr said affordability remains on everyone's mind. Lithia Motors (NYSE:LAD) edged higher in sympathy.

A Difficult Backdrop for Consumers

The Conference Board's consumer confidence index fell to 81.9 in September from 88.6 in August, its lowest reading since 2014 and below the 89.2 forecast. August Job Openings slipped to 7.079 million, below forecasts and the lowest since March. Rising long-term Treasury yields were the main weight on the market, with the 30-year at its highest level since 2002 and the 10-year near a two-decade high. Consumer discretionary stocks were among the session's decliners as a group.

Wider Market

The S&P 500 closed at 7,670.84, down 12.85 points, and the Dow Jones Industrial Average closed at 51,349.92, down 131.59 points. The Nasdaq Composite ended little changed at 26,797.54.

A Beat Against Cautious Surveys

CarMax sits at the intersection of household budgets, Credit availability and vehicle supply. A quarter with more cars sold, better margins and a wide beat stood out on a day when confidence surveys pointed to caution.