Archived explainer. For the current picture see today's KMX page.
Why Is CARMAX INC (KMX) Stock Up Today?
By the Top Tier Newswire AI Desk · September 29, 2026 at 9:35 AM ET · reviewed against 29 wire stories
CARMAX INC (KMX) is up +8.37% in the latest session. Our newswire has captured 29 stories on KMX across 18 sources in the last 36 hours, with AI sentiment reading bullish (avg 58/100).
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KMX stock surged 8.37% to $61.29 on September 29, driven by a strong earnings report and strategic updates. The used-car retailer reported fiscal 2027 second-quarter earnings of $1.16 per share, significantly exceeding expectations, while revenue reached $7.88 billion. The company also announced a return to share buybacks and leadership changes to support its digital and customer strategy.
What Happened
CarMax posted stronger-than-expected quarterly results, with earnings per share of $1.16 and revenue of $7.88 billion. The report highlighted a 13.8% increase in used unit sales, driven by pricing strategies that boosted unit volumes. The stock opened with a 3.4% gap up at $58.50, reflecting the positive earnings surprise and broader market optimism. The company also announced leadership changes, including the appointment of Elizabeth Dirgins as Chief Digital and Customer Officer, as part of its “Shift into GEAR” growth strategy.
What The Data Shows
The stock opened at $58.50 and reached an intraday high of $63.67 before settling near $61.06. Trading volume so far is 1.4 million shares, or 0.5 times the 3-month daily average. The stock has risen 8.37% in the session, with a market cap of $8.1 billion. The price-to-earnings ratio stands at 36.8, and the stock is currently within its 52-week range of $30.26 to $65.28. Over the last eight sessions, the stock moved down 2.2% from $58.78 to $57.49, but the recent earnings report has reversed that trend.
What To Watch
The stock is set to continue trading with a focus on how the market digests the leadership changes and buyback resumption. With earnings already reported and a positive reception, the next key event will be how the company executes its strategic initiatives and whether the earnings momentum continues into the following week.
AI-assisted analysis composed exclusively from headlines and data on the Top Tier newswire. Public view is delayed 4 hours from real time. Not financial advice.
KMX · today's session (5-min) · +5.25% vs prior close · updated 2:36 PM ETAI sentiment, last 36h · averaged over 29 stories · 58/100 bullish
The headlines behind the move
Story flow · 8 stories on the wire, last 36h · hover or tap a dot for the headline
5h agoMorningstarBEARISH 38General
Dow Jones Top Company Headlines at 9 AM ET: Oura Postpones IPO Over Market Uncertainty | CarMax ...
Google said it has filed appeals with the European Union's second-highest court against binding instructions to open up its Android operating system, allowing other search engines to access search data.
6h ago24/7 Wall St.BULLISH 68Earnings
CarMax Jumps 6% as Quarterly Earnings Hit $1.16 per Share and Buybacks Set to Resume; Carvana Rises 3%, Lithia Motors Ticks Up
CarMax (NYSE:KMX) stock is up 6% to $59.75 early in the session after the used-car retailer posted stronger fiscal 2027 second-quarter earnings and indicated a return to share buybacks. The report offers a fresh read on whether CarMax’s sharper pricing is winning shoppers back, and rival auto retailers are edging higher in response. Online rival […]
The used-car retailer posted $1.16 in diluted earnings per share, well above analyst expectations, as pricing moves drove higher unit volumes
6h agoMarketChameleonBULLISH 56Product/PR
CarMax names a new Chief Digital and Customer Officer as it centralizes strategy, AI, and pricing
September 29, 2026
CarMax announced two leadership moves tied to its “Shift into GEAR” growth strategy: Elizabeth Dirgins will join October 5 as the newly created EVP, Chief Digital and Customer Officer, while Jeff Campbell has been promoted to SVP of Strategy. The company said the changes are designed to unify the end-to-end customer experience and centralize strategy, data science, AI, and pricing to accelerate decision-making ahead of a November 3 virtual Strategic Update.
Mizuho reiterates Neutral on CarMax stock after strong Q2 results
Mizuho reiterates Neutral on CarMax stock after strong Q2 results
7h agoThe FlyBULLISH 59General
CarMax says CAF originated $8B in auto loans during FY26
7h agoInvestorsHubBULLISH 68Earnings
CarMax Shares Rise as Q2 Earnings and Revenue Exceed Forecasts
CarMax shares rise after Q2 fiscal 2027 adjusted EPS of $1.16 and revenue of $7.88 billion exceed analyst forecasts, while used unit sales increase 13.8%.
7h agoMorningstarBEARISH 38General
Dow Jones Top Company Headlines at 7 AM ET: Oura Postpones IPO Over Market Uncertainty | CarMax ...
Google said it has filed appeals with the European Union's second-highest court against binding instructions to open up its Android operating system, allow other search engines to access search data.
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