CarMax sets mid-teens adjusted EPS growth target through fiscal 2030

CarMax, Inc. (NYSE: KMX) outlined a multi-year growth strategy, targeting a mid-single-digit used retail unit compound annual growth rate and a mid-teens adjusted earnings per share CAGR through fiscal 2030, using fiscal 2026 as a base.

The used-car retailer detailed the plan, called "Shift into GEAR," during a strategic update webcast. The strategy is built around four areas: improving its customer offering, enhancing the digital-to-store experience, expanding value per transaction, and reducing costs.

CarMax Auto Finance plans a disciplined expansion into Tier 2 lending and more flexible funding capabilities. The company also said it intends to lower reconditioning and logistics costs while driving efficiencies in selling, general and administrative expenses to fund investments and improve operating leverage.

"Shift into GEAR is about strengthening our core operations and getting the most from these advantages," said Keith Barr, President and CEO. "Our plan is designed to win more customers, increase value per transaction and lower costs to support competitive pricing and drive operating leverage."

CFO Enrique Mayor-Mora said the framework is intended to maintain a strong balance sheet while returning excess capital to shareholders. "Our framework targets mid-single-digit used retail unit CAGR and mid-teens adjusted EPS CAGR through fiscal 2030," he said.

According to the press release, CarMax sold approximately 780,000 used vehicles and 540,000 wholesale vehicles during the fiscal year ended February 28, 2026. CarMax Auto Finance originated $8 billion in auto loans during fiscal 2026, contributing to a $16 billion portfolio. The company operates more than 255 store locations and employs approximately 28,000 associates.

You May Also Be Interested In

• Allied Gold Q3 2026: Kurmuk mine enters production, gold output rises 5%
• Vertex (VERX) Tops Q3 EPS by 4c; Offers Guidance
• Socket Mobile (SCKT) Reports Q3 Loss of $0.09