Key Highlights

● CarMax reported fiscal second-quarter Revenue of about $7.9 billion on Tuesday, September 29, 2026, against roughly $7 billion expected.

● Earnings of $1.16 a share far exceeded consensus estimates cited between $0.68 and $0.75, depending on the source.

● Retail used-unit sales rose strongly, and used-vehicle margins recovered, so the company earned more on each car sold.

● CarMax plans to resume share repurchases in the fourth quarter, and its shares ranked among S&P 500 gainers.

For a retailer, few numbers speak louder than sales. CarMax, Inc. (NYSE:KMX) reported fiscal second-quarter revenue of about $7.9 billion on Tuesday, September 29, 2026, well ahead of the roughly $7 billion analysts expected, and the stock rose, ranking among the standout gainers in the S&P 500 on a day when the index slipped.

Inside the Top Line

The revenue estimate was cited as $7.03 billion by some sources and closer to $6.98 billion by others. Either way, the $7.9 billion CarMax delivered was a decisive beat and represented strong growth from the same quarter a year earlier. The driver was volume: retail used-unit sales rose strongly, and used-vehicle margins recovered, so the company made more on each car it sold.

Profit Follows Sales

Higher revenue and firmer margins flowed through to the bottom line. CarMax earned $1.16 a share, far above consensus estimates cited at $0.68, $0.73 or $0.75. The company said it plans to resume share repurchases in the fourth quarter. Chief Executive Keith Barr said affordability remains on everyone's mind, a reminder that high vehicle prices and Loan rates still weigh on buyers.

A Lift for Peers

The results gave a small lift to Lithia Motors (NYSE:LAD), which edged higher in sympathy.

Shoppers Are Gloomy but Buying

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. The 30-year Treasury Yield reached its highest level since 2002, and the 10-year touched its highest in roughly two decades. New York Fed President John Williams said there is no need for urgency after the central bank's September meeting, and odds of an October rate hike fell to roughly a coin flip.

Consumer Discretionary Splits

The S&P 500 slipped 12.85 points, or 0.17%, to 7,670.84, while the Dow Jones Industrial Average fell 131.59 points to 51,349.92 and the Nasdaq Composite finished nearly flat at 26,797.54. It was the fifth loss in six sessions for the three major indexes. Consumer discretionary names were among the decliners as a group, which made CarMax's gain more conspicuous.