CarMax (NYSE: KMX) Q3 Earnings Preview: Analyst Estimates and Market Outlook

• CarMax, Inc. (NYSE: KMX) is set to announce its Q3 earnings on September 29, 2026, with analysts forecasting an EPS of around $0.73 and revenue of approximately $7.09 billion.

• Despite a soft auto market, CarMax anticipates an increase in revenue compared to the previous year, though recent staff reductions highlight ongoing turnaround efforts.

• From a valuation perspective, CarMax exhibits a P/E ratio of 35.53, a debt-to-equity ratio of 3.05, and a strong current ratio of 2.70.

CarMax, Inc. (NYSE: KMX) is the largest retailer of used vehicles in the United States. The company operates a network of retail stores and online platforms for buying and selling used cars. CarMax is preparing to announce its quarterly earnings on September 29, 2026, before the market opens, an event closely watched by investors.

Wall Street analysts have established a consensus earnings per share (EPS) estimate of $0.73 for the upcoming report. EPS indicates a company's profit per outstanding share of stock. However, forecasts vary, with some analysts cited by Zacks Equity Research expecting $0.67 per share, while others mentioned by Benzinga Pro anticipate $0.70 per share.

For the same quarter, the consensus revenue estimate is approximately $7.09 billion. This is slightly higher than other projections, such as the $7.05 billion forecast reported by Zacks Equity Research and the $6.94 billion estimate from Benzinga Pro. These figures suggest an expected increase in revenue compared to the $6.59 billion reported in the same quarter last year.

These financial expectations are set against the backdrop of a soft auto market. As part of a turnaround plan, CarMax recently reduced its corporate staff by 145 employees, which is the third job cut in the last 12 months, as highlighted by the Wall Street Journal. This context is important for understanding the company's performance.

From a valuation standpoint, CarMax trades at a price-to-earnings (P/E) ratio of 35.53. The company's financial structure includes a debt-to-equity ratio of 3.05, which compares its total debt to shareholder equity. Furthermore, its current ratio of 2.70 indicates a strong ability to meet its short-term financial obligations.