CarMax Reports Q2 2023 Net Income and Revenue Figures

CarMax, Inc. (KMX), the nation's large st retailer of used cars, released its financial results for the second quarter of 2023, revealing a decline in net income and a slip in revenue compared to the same period last year. The company, which operates a chain of used car dealerships across the United States, reported its unaudited consolidated statements of earnings, balance sheets, and cash flows for the quarter ended August 31, 2023.

Net Income Decreases in Q2 2023

CarMax reported a net income of $118.6 million for the three months ended August 31, 2023, compared to $125.9 million for the same period in 2022. This represents a 5.8% decrease in net income year-over-year.

Revenue Slides in Q2 2023