CarMax Shares Rise as Fiscal Q2 Net Sales and Operating Revenue Exceed Expectations

Shares of CarMax saw an increase of over 2% in premarket trading on Thursday, following the used vehicle retailer’s announcement of better-than-expected revenue for fiscal Q2 2025.

The company reported quarterly earnings per share (EPS) of $0.85, which aligned with analysts’ predictions. Net sales and operating revenue climbed to $7.01 billion, surpassing the consensus estimate of $6.82 billion.

Used vehicle sales reached $5.68 billion, reflecting a 1.5% increase year-over-year and exceeding the estimated $5.44 billion. In contrast, wholesale vehicle sales totaled $1.15 billion, a 13% decrease from the previous year, slightly falling short of the $1.2 billion forecast.

Bill Nash, president and CEO of CarMax, expressed satisfaction with the ongoing improvements in the business during the second quarter. He noted that these advancements stem from effective strategies to enhance the value and experience provided to both associates and customers, as well as from a continued decline in prices and greater stability in vehicle valuations.

Nash highlighted that retail used unit sales grew, margins remained strong, and the company successfully managed selling, general, and administrative (SG&A) expenses, all while achieving double-digit earnings growth despite challenges in the broader auto loan market.