Q: What is CarMax (KMX) Q2 2025 Earnings Call Transcript Summary?
**CarMax (KMX) Q2 2025 Earnings Call Summary**
**Bullish Points:**
1. Achieved positive sales trends, strong margins, cost efficiencies, and EPS growth.
2. Grew retail unit volume year over year.
3. Delivered strong retail and wholesale GPUs and expanded EPP and service gross profit.
4. Bought more vehicles from dealers, achieving a second quarter record.
5. Maintained stable CAF net interest margin and began to test new full-spectrum underwriting model.
6. Achieved double-digit EPS growth.
7. Total unit sales increased 5.1%, and used unit comps were up 4.3%.
8. Second quarter retail gross profit per used unit was $2,269, consistent with last year's $2,251.
9. Bought approximately 300,000 vehicles during the quarter, up 3% from last year.
10. Increased adoption of omnichannel retail experience.
**Bearish Points:**
1. Total sales of $7 billion, down 1% compared to last year.
2. Average selling price declined approximately $1,250 per unit or 5% year over year.
3. Unit sales were down 0.3% versus the second quarter last year.
4. Average selling prices declined approximately $1,150 per unit or 13% year over year.
5. CAF income for the quarter was $116 million, down 14% from the same period last year.
6. Provision for loan losses for the quarter was $113 million, up from $90 million in last year's second quarter.
7. Total compensation and benefits increased by $16 million.
8. Occupancy costs rose by $7 million.
9. September sales trending a bit softer compared to the second quarter.
10. Higher delinquency and loss environment leading to a $52 million adjustment in provisions.
For more information about CarMax's earnings call, you can read the relevant news: CarMax (KMX) Q2 2025 Earnings Call Transcript
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
