$KMX reported comparable used units up 13.0% and $1.16 of EPS against $0.64. Its last four print days closed down 20.1%, 4.2%, 15.1% and 9.0%.

Monday's close was $56.55, down 1.2% from Friday's $57.21, on 6.36 million shares, 3.0 times the recent norm, and $360 million of stock, the session before the print. The open was $57.17, the high $58.77, the low $56.24, and the close sat in the bottom eighth of a 4.4% range. The used-car names sold off together, with no item on any of them in the desk's wire feed that day: CVNA closed down 7.1% on 3.7 times its recent volume, LAD down 4.2%, AN down 3.4%, against a 0.7% decline in SPY. The close is 13.4% under the 52-week high of $65.28 from August 26, 30.6% over the close of 120 sessions ago, and 18.1% over the 200-day average of $47.89. From the $30.88 close of November 6, 2025, the day the previous chief executive's departure and a preliminary third-quarter comparable-unit decline of 8% to 12% were announced and the stock fell 24.3%, Monday's close is up 83.1%. Keith Barr's first day as chief executive was March 16; the close before it was $41.84.

The 8-K was accepted at 07:00:30 ET Tuesday. Net revenues were $7.9 billion, up 19.5% from $6,594.7 million; comparable store used units rose 13.0%, against a 6.3% decline in the same quarter a year ago; retail used units were 227,391, up 13.8%, at an average selling price of $27,623, up 6.3%; wholesale units were 160,344, up 15.9%. Gross profit per retail used unit was $2,105, down $111, and per wholesale unit $858, down $135; total gross profit was $799.5 million, up 11.4%. CarMax Auto Finance income was $135.6 million, up 32.1%, with the loan loss provision at $113.4 million against $142.2 million a year ago and the interest margin at 6.6% of average loans, unchanged. SG&A was $628.6 million, up 4.6%. Net earnings were $165.3 million, $1.16 a diluted share against $0.64. The company repurchased no shares in the quarter, intends to resume repurchases at a modest level in the third quarter with $1.31 billion of authorization remaining, and will host a virtual Strategic Update on November 3 at 8:00 ET. The wire's consensus going in was $0.73 and $6.98 billion.

The quarter before, reported June 17, had revenue up 6.2%, comparable units down 0.8% and EPS of $1.31 against $1.38; the stock closed that day down 9.0% and the next day up 13.1%. The four print days before this one closed down 20.1%, 4.2%, 15.1% and 9.0%, and five sessions after each the stock stood 19.3% lower, 4.4% lower, 20.5% lower and 1.5% higher than the pre-print close. The exam is Monday's 5-session excess band, -9.5 / -0.1 / +8.0, from a state the memory filed before the print. The pre-market tape from the consolidated feed, 15 minutes delayed, through the 08:45 ET bar: the stock traded between $55.91 and $56.85 from 04:05 to 05:45, printed $58.10 to $59.90 in the 05:50 bar as the release crossed the wire, an hour before the 8-K, and stood at $60.10 at 08:45, +6.3% against Monday's close, with a pre-market high of $61.22, a low of $55.91 before the release, and about 717 thousand shares.