CarMax (KMX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

CarMax (KMX) reported $5.79 billion in revenue for the quarter ended November 2025, representing a year-over-year decline of 6.9%. EPS of $0.51 for the same period compares to $0.81 a year ago.

The reported revenue represents a surprise of +1.18% over the Zacks Consensus Estimate of $5.73 billion. With the consensus EPS estimate being $0.32, the EPS surprise was +59.38%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how CarMax performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Comparable Store Used Vehicles Sales - YoY change: -8.1% compared to the -7.8% average estimate based on seven analysts.
  • Number of stores - Total: 250 compared to the 256 average estimate based on six analysts.
  • Gross Profit per Unit - Used vehicle: $2,235.00 versus the six-analyst average estimate of $2,207.35.
  • Gross Profit per Unit - Wholesale vehicle: $899.00 compared to the $918.80 average estimate based on six analysts.
  • Average Selling Prices - Wholesale vehicles: $8.14 thousand versus $8.06 thousand estimated by five analysts on average.
  • Net sales and operating revenues- Wholesale vehicle: $1.1 billion versus the eight-analyst average estimate of $1.05 billion. The reported number represents a year-over-year change of -6.3%.
  • Net sales and operating revenues- Other sales and revenues: $150.63 million compared to the $159.33 million average estimate based on eight analysts. The reported number represents a change of -9.2% year over year.
  • Net sales and operating revenues- Used vehicle: $4.55 billion versus $4.52 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -7% change.
  • Other sales and revenues- Third-party finance fees, net: $-3 million compared to the $0.5 million average estimate based on six analysts. The reported number represents a change of -400% year over year.
  • Other sales and revenues- Extended protection plan revenues: $96.6 million compared to the $101.08 million average estimate based on six analysts. The reported number represents a change of -8.4% year over year.
  • Other sales and revenues- Other: $21.9 million compared to the $22.69 million average estimate based on five analysts. The reported number represents a change of -6% year over year.
  • Other sales and revenues- Advertising & subscription revenues: $35.1 million versus $36.6 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.

View all Key Company Metrics for CarMax here>>>

Shares of CarMax have returned +20.1% over the past month versus the Zacks S&P 500 composite's +0.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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