UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended August 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-31420 CARMAX, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 12800 Tuckahoe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended May 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (804) 747-0422 (Registrant's telephone number, including area code) N/A Commission File Number: 1-31420 CARMAX, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...

CarMax, Inc. (NYSE:KMX) Q1 2022 Results Conference Call June 25, 2021 9:00 AM ET Company Participants Stacy Frole - VP, IR Bill Nash - President & CEO Enrique Mayor-Mora - SVP & CFO Jon Daniels - SVP, CAF Operations Conference Call Participants Craig Kennison - Baird Sharon Zackfia - William Blair John Murphy - Bank of America Michael Montani - Evercore Brian Nagel - Oppenheimer Rick Nelson - Stephens John Healy - Northcoast Rajat Gupta - JPMorgan Scot Ciccarelli - RBC Capital Markets Chris Bottiglieri - Ex ...

Sales Performance - Used vehicle sales decreased to $15,713.6 million in FY21 from $17,169.5 million in FY20, a decline of 8.5%[1]. - Net sales and operating revenues fell by 6.7% to $18,950.1 million in FY21 compared to $20,320.0 million in FY20[1]. - Gross profit decreased by 12.6% to $2,379.1 million in FY21 from $2,722.3 million in FY20[1]. - Net earnings dropped by 15.9% to $746.9 million in FY21, down from $888.4 million in FY20[1]. - Used vehicle units sold decreased by 9.7% to 751,862 in FY21 from 832,640 in FY20[1]. - Comparable store used vehicle unit sales declined by 11.7% in fiscal 2021, reflecting the impact of COVID-19 related store closures and reduced customer traffic[213]. Financing and Receivables - CarMax Auto Finance (CAF) financed 42.5% of retail used vehicle unit sales in fiscal 2021, leveraging proprietary scoring models for underwriting decisions[34]. - The company managed a portfolio of $13.85 billion in receivables as of February 28, 2021, servicing approximately 1,054,000 customer accounts[17]. - CAF income increased by 23.4% to $562.8 million in FY21 compared to $456.0 million in FY20[1]. - The financing penetration for used vehicles through the company's channel (CAF) decreased to 45.5% in fiscal 2021 from 46.7% in fiscal 2020[215]. Market Position and Strategy - CarMax's market share for age 0- to 10-year-old vehicles was approximately 3.5% in calendar 2020, with a decline from 4.7% in 2019[37]. - The company has completed the rollout of its omni-channel platform, which is critical for capturing expected benefits and enhancing customer experience[104]. - CarMax's competitive advantages include no-haggle pricing, a broad selection of vehicles, and a customer-friendly sales process, positioning the company for continued market share growth[38]. - The company plans to open ten new stores during fiscal 2022 after resuming its store expansion strategy[192]. Operational Changes and Challenges - The COVID-19 pandemic has significantly disrupted CarMax's business operations, leading to weakened consumer demand and restricted retail operations[82]. - The company implemented hiring freezes, employee furloughs, and pay reductions due to COVID-19, which may need to be reinstated if the pandemic worsens[108]. - The company transitioned its wholesale auctions to an online platform during fiscal 2021, with plans to continue using online technology for future auctions[40]. Customer Experience and Engagement - The omni-channel platform was fully rolled out in the second quarter of fiscal 2021, allowing customers to buy vehicles online, in-store, or through a combination of both[20][38]. - CarMax's website and mobile apps received an average of 27 million monthly visits during fiscal 2021, with about 96% of customers purchasing a vehicle after visiting online[59]. - Approximately 60% of customers who purchased a retail used vehicle also bought an extended service plan (ESP), and about 20% purchased guaranteed asset protection (GAP)[33]. Workforce and Diversity - As of February 28, 2021, CarMax employed a total of 26,889 associates, including 3,923 in-store sales associates and 1,609 sales associates in Customer Experience Centers[62]. - The company has a commitment to pay the majority of its associates $15 or more per hour and offers health benefits to all full-time associates[62]. - CarMax has implemented a quarterly plan for measuring and tracking progress on diversity and inclusion commitments[69]. Financial Position and Stock Performance - The company has not paid any dividends on its common stock and does not plan to do so in the foreseeable future[155]. - During the fourth quarter of fiscal 2021, CarMax repurchased a total of 688,471 shares of common stock at an average price of $94.68 and $100.60[157]. - The board authorized the repurchase of up to $2 billion of common stock with no expiration date, allowing for purchases in open market or privately negotiated transactions[157]. - CarMax's cumulative total shareholder return from February 29, 2016, to February 28, 2021, increased to $258.34, compared to $100.00 at the start[159]. Risks and Regulatory Environment - The company is subject to various federal, state, and local environmental laws and regulations that could affect its operations and compliance costs[78]. - The company is sensitive to changes in retail prices for new and used vehicles, which could adversely affect sales and margins[111]. - The company operates in a highly regulated industry, and changes in laws or regulations could adversely affect its business[132]. - The ongoing COVID-19 pandemic may continue to influence consumer behavior and the overall economic landscape, posing risks to CarMax's business model[84].

CarMax, Inc. (NYSE:KMX) Q4 2021 Earnings Conference Call April 1, 2021 9:00 AM ET Company Participants Stacy Frole - VP, IR William Nash - President, CEO & Director Enrique Mayor-Mora - SVP & CFO Jon Daniels - SVP, CarMax Auto Finance Conference Call Participants Sharon Zackfia - William Blair & Company Craig Kennison - Robert W. Baird & Co. John Murphy - Bank of America Merrill Lynch Seth Basham - Wedbush Securities Brian Nagel - Oppenheimer Robert Ciccarelli - RBC Capital Markets Michael Montani - Evercor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended November 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-31420 CARMAX, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 12800 Tuckaho ...

CarMax, Inc. (NYSE:KMX) Q3 2021 Earnings Conference Call December 22, 2020 9:00 AM ET Company Participants Stacy Frole - Vice President, Investor Relations Bill Nash - President and Chief Executive Officer Tom Reedy - Executive Vice President, Finance Enrique Mayor-Mora - Senior Vice President and Chief Financial Officer Jon Daniels - Senior Vice President, CAF Conference Call Participants Scot Ciccarelli - RBC Capital Markets Michael Mantoni – Evercore John Murphy - Bank of America Sharon Zackfia - William ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended August 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 1-31420 CARMAX, INC. (Exact name of registrant as specified in its charter) Virginia 54-1821055 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification ...

CarMax, Inc. (NYSE:KMX) Q2 2021 Results Conference Call September 24, 2020 9:00 AM ET Company Participants Stacy Frole - Vice President, Investor Relations Bill Nash - President & Chief Executive Officer Tom Reedy - Executive Vice President, Finance Enrique Mayor-Mora - Senior Vice President & Chief Executive Officer Conference Call Participants John Murphy - Bank of America Sharon Zackfia - William Blair Craig Kennison - Baird Seth Basham - Wedbush Securities Scott Ciccarelli - RBC Capital Brian Nagel - Op ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 12800 Tuckahoe Creek Parkway 23238 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) For the Quarterly Period Ended May 31, 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Virginia 54-1821055 Commission ...