CarMax Shifts into High Gear: Strong Q4 Performance Sets Stage for Next Chapter of Growth

CarMax, the leading used car retailer in the United States, has just reported a solid performance in its fourth quarter fiscal year 2026. The company's quarterly investor presentation and earnings release are now available on its website.

In a conference call to discuss the results, Tom Folliard, Interim Executive Chair of the Board, welcomed Keith Barr as the new President and Chief Executive Officer, effective immediately. Keith brings over three decades of experience leading complex businesses, with a strong focus on customer-centricity, growth, and brand strengthening.

During the quarter, CarMax made significant progress on its priorities to strengthen the business, including improving sales trends through price reductions, targeted marketing, and digital enhancements. The company also continued to streamline its cost structure, lower the cost of bringing cars to market, and make meaningful progress on SG&A reduction goals.

Keith Barr expressed his excitement about joining CarMax, praising the company's award-winning culture and commitment to customer trust. He emphasized that a customer- and associate-centric approach is at the heart of how he leads, aligning with CarMax's values.

The quarterly investor presentation highlights several key achievements from Q4 2026, including:

CarMax's continued investment in digital enhancements, designed to drive conversion and improve customer experience; and

The company's ongoing efforts to lower costs and improve efficiency, enabling more affordable vehicle options for customers.

Enrique Mayor-Mora, Executive Vice President and CFO, will provide additional details on the company's fourth quarter results and fiscal year 2027 expectations during the call. Jon Daniels, Executive Vice President of CarMax Auto Finance, will also speak about the company's auto finance business.

In a statement, Tom Folliard praised David McCreight for his leadership as Interim President and CEO, noting that he had strengthened the business in the near term and solidified the foundation for growth ahead. David will continue to serve as an Independent Director of the Board.

CarMax's Q4 2026 results are a testament to the company's resilience and commitment to delivering exceptional customer experiences. With Keith Barr at the helm, the company is poised to drive further growth and innovation in the used car retail industry.