CarMax Inc. (NYSE: KMX) is trading lower premarket on Thursday after reporting third-quarter 2025 earnings.
The used-car retail giant reported earnings per share of 43 cents, beating the analyst consensus estimate of 39 cents. Adjusted earnings per share for the quarter were 51 cents, which excluded restructuring charges of 8 cents per share.
Quarterly sales of $5.794 billion, down 6.9% year-over-year, surpassed the Street view of $5.678 billion.
Quarterly SG&A expenses increased 1.0% year-over-year to $581.4 million compared to the prior-year quarter.
Also Read: CarMax Credit Worries Mount: November Data Shows Soft Trends, Rising Defaults
Leadership Change
CarMax has announced leadership changes effective December 1, 2025. David McCreight, a member of the Board, has been named Interim President and CEO. Tom Folliard, Chair of the Board, has been named Interim Executive Chair of the Board. A search for a permanent CEO is currently underway.
“Our unmatched physical and digital infrastructure, beloved national brand, and award-winning culture provide us with incredible advantages. Despite …