<p>CarMax, Inc.（纽约证券交易所代码：KMX）在新财年开局良好，报告了强劲的第一季度销售和两位数的盈利增长。公司正在利用新车需求放缓的机会，部分原因是关税和不断上涨的车辆价格提升了二手车的转售价值。公司的灵活全渠道模式——整合了线上、线下和混合购买选项——使其能够很好地把握当前市场的顺风，但由于进口备件成本上升，利润率面临压力。</p>
<p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2019/02/Earnings-preview-1280.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2019/02/Earnings-preview-1280.jpg"/></p>
<p>总部位于弗吉尼亚州里士满的二手车零售商预计将在 2026 财年第二季度报告强劲的盈利增长——报告将于 9 月 25 日星期四上午 6:50（东部时间）发布。预计第二季度每股收益将从 2025 财年同期的 0.85 美元增加至 1.03 美元。第二季度的销售共识预估为 70.3 亿美元，略高于去年同期的销售额。</p>
<h2>股票下滑</h2>
<p>CarMax 的股票在今年早些时候触及 52 周低点，并且年初至今仍显著下跌。<strong>尽管在 2025 财年第四季度强劲反弹，但 2025 年整体上仍以表现不佳和投资者谨慎为特征。</strong> 在过去 12 个月中，股价下跌了四分之一，从投资角度来看，估值变得具有吸引力。尽管面临宏观经济挑战，公司基于技术的销售策略和最近一个季度客户的韧性表现表明，KMX 正接近转机。</p>
<p><strong><em>另请阅读：CarMax 2026 财年第一季度盈利因强劲销售而激增</em></strong></p>
<p><em>“我们的净推荐值是自全国推出数字化能力以来的最高水平，新的在线和全渠道评分创下历史新高，表明这一体验与客户产生了良好的共鸣。我们的差异化产品为我们提供了一个独特的机会，能够接触到更多客户。为了进一步利用这一机会，我们很高兴将在夏季晚些时候推出一项新的营销活动，将我们的全渠道体验和数字能力推向更广泛的消费者，”</em> CarMax 首席执行官 Bill Nash 在 2026 财年第一季度的盈利电话会议上表示。</p>
<h2>同比增长</h2>
<p>在 2026 财年第一季度，销售和营业收入从 2025 财年同期的 71.1 亿美元增加至 75.5 亿美元。<strong>零售二手车单位销售和可比门店二手车单位销售在本季度分别增长了 9.0% 和 8.1%，而批发单位增长了 1.2%。</strong> 第一季度净收入为 2.104 亿美元，每股收益为 1.38 美元，而去年同期为 1.524 亿美元，每股收益为 0.97 美元。盈利和销售均超出预期。</p>
<p>虽然受益于新车需求放缓，原因是对进口车辆和从其他国家采购的备件征收更高的关税，但 CarMax 自身面临着用于翻新汽车的零部件成本上升的压力。管理层预计，销售和盈利能力将因其人工智能整合战略而获得重大提升。然而，消费者情绪低迷和贸易战可能升级对 CarMax 在剩余年度的财务表现构成风险。</p>
<p>CarMax 股票在过去 52 周的平均价格为 72.01 美元。在过去几周，该股一直在该水平以下交易。周一，股票开盘价为 58.42 美元。</p>
<p>该文章《盈利预览：CarMax 借助定价势头和全渠道优势前行》首次出现在 AlphaStreet 上。</p>

车美仕

<p>CarMax, Inc.（纽约证券交易所代码：KMX）预计将在 2026 财年第二季度报告强劲的盈利增长，预计每股收益为 1.03 美元，较 2025 财年的 0.85 美元有所上升。尽管面临进口零部件成本上升的压力，该公司仍受益于车辆价格上涨和灵活的全渠道模式。2026 财年第一季度的销售额增加至 75.55 亿美元，净收入上升至 2.104 亿美元。然而，CarMax 的股价在过去一年中大幅下跌，反映出投资者在宏观经济挑战下的谨慎态度。公司计划推出一项新的营销活动，以增强其数字能力</p>

<p>CarMax, Inc. (NYSE: KMX) entered the new fiscal year on a high note, reporting strong first-quarter sales and double-digit earnings growth. It is capitalizing on the slowdown in the demand for new cars, partly due to tariffs, and rising vehicle prices that have boosted resale values. The company’s flexible omnichannel model –integrating online, offline, and hybrid purchasing options — positions it well to capture the current market tailwinds, but margins face pressure from higher costs for imported spare parts.</p>
<div class="lb-trans"><p>CarMax, Inc.（纽约证券交易所代码：KMX）在新财年开局良好，报告了强劲的第一季度销售和两位数的盈利增长。公司正在利用新车需求放缓的机会，部分原因是关税和不断上涨的车辆价格提升了二手车的转售价值。公司的灵活全渠道模式——整合了线上、线下和混合购买选项——使其能够很好地把握当前市场的顺风，但由于进口备件成本上升，利润率面临压力。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cdn.news.alphastreet.com/wp-content/uploads/2019/02/Earnings-preview-1280.jpg" alt="" original-src="https://cdn.news.alphastreet.com/wp-content/uploads/2019/02/Earnings-preview-1280.jpg"/></p>
<p>The Richmond, Virginia-headquartered used car retailer is expected to report strong earnings growth for the second quarter of FY26 – the report is due on Thursday, September 25, at 6:50 am ET. It is estimated that second-quarter earnings increased to $1.03 per share from $0.85 per share in the comparable period of fiscal 2025. The consensus sales estimate for Q2 is $7.03 billion, which is slightly higher than sales generated in the year-ago quarter.</p>
<div class="lb-trans"><p>总部位于弗吉尼亚州里士满的二手车零售商预计将在 2026 财年第二季度报告强劲的盈利增长——报告将于 9 月 25 日星期四上午 6:50（东部时间）发布。预计第二季度每股收益将从 2025 财年同期的 0.85 美元增加至 1.03 美元。第二季度的销售共识预估为 70.3 亿美元，略高于去年同期的销售额。</p>
</div><h2>Stock Slips</h2>
<div class="lb-trans"><h2>股票下滑</h2>
</div><p>CarMax shares hit a 52-week low earlier this year and remain significantly down year-to-date. <strong>Despite a strong rebound in the fourth quarter, 2025 has largely been marked by underperformance and investor caution.</strong> The stock price has dropped by one-fourth in the past twelve months, making the valuation attractive from an investment perspective. The company’s technology-driven selling strategy and resilient customer behaviour in the most recent quarter, despite macroeconomic challenges, suggest KMX is nearing a turnaround.</p>
<div class="lb-trans"><p>CarMax 的股票在今年早些时候触及 52 周低点，并且年初至今仍显著下跌。<strong>尽管在 2025 财年第四季度强劲反弹，但 2025 年整体上仍以表现不佳和投资者谨慎为特征。</strong> 在过去 12 个月中，股价下跌了四分之一，从投资角度来看，估值变得具有吸引力。尽管面临宏观经济挑战，公司基于技术的销售策略和最近一个季度客户的韧性表现表明，KMX 正接近转机。</p>
</div><p><strong><em>Also Read:</em> CarMax Q1 2026 earnings jump amid strong sales</strong></p>
<div class="lb-trans"><p><strong><em>另请阅读：CarMax 2026 财年第一季度盈利因强劲销售而激增</em></strong></p>
</div><p><em>“Our Net Promoter Score is the highest it’s been since rolling out our digital capabilities nationwide, supported by new record high online and omni scores reflecting that this experience is resonating well with customers. Our differentiating offering gives us a unique opportunity to reach more customers. To further capitalize on this opportunity, we’re excited to launch a new marketing campaign later in the summer that will bring our omnichannel experience and our digital capabilities to the forefront for a broad set of consumers,”</em> CarMax CEO Bill Nash said at the Q1 FY26 earnings call.</p>
<div class="lb-trans"><p><em>“我们的净推荐值是自全国推出数字化能力以来的最高水平，新的在线和全渠道评分创下历史新高，表明这一体验与客户产生了良好的共鸣。我们的差异化产品为我们提供了一个独特的机会，能够接触到更多客户。为了进一步利用这一机会，我们很高兴将在夏季晚些时候推出一项新的营销活动，将我们的全渠道体验和数字能力推向更广泛的消费者，”</em> CarMax 首席执行官 Bill Nash 在 2026 财年第一季度的盈利电话会议上表示。</p>
</div><h2>Comps Grow</h2>
<div class="lb-trans"><h2>同比增长</h2>
</div><p>In the first three months of FY26, sales and operating revenues increased to $7.55 billion from $7.11 billion in the comparable quarter of FY25. <strong>Retail used unit sales and comparable store used unit sales increased by 9.0% and 8.1% respectively during the quarter, while wholesale units rose 1.2%.</strong> Q1 net income was $210.4 million or $1.38 per share, compared to $152.4 million or $0.97 per share in the prior-year quarter. Earnings and sales beat estimates.</p>
<div class="lb-trans"><p>在 2026 财年第一季度，销售和营业收入从 2025 财年同期的 71.1 亿美元增加至 75.5 亿美元。<strong>零售二手车单位销售和可比门店二手车单位销售在本季度分别增长了 9.0% 和 8.1%，而批发单位增长了 1.2%。</strong> 第一季度净收入为 2.104 亿美元，每股收益为 1.38 美元，而去年同期为 1.524 亿美元，每股收益为 0.97 美元。盈利和销售均超出预期。</p>
</div><p>While benefiting from the slowdown in new car demand, due to higher tariffs on imported vehicles and spare parts procured from other countries, CarMax itself faces pressure from elevated costs of parts needed for reconditioning cars. The management expects sales and profitability to get a major boost from its AI integration strategy. However, subdued consumer sentiment and a potential escalation of the trade war pose a risk to CarMax’s financial performance in the remainder of the year.</p>
<div class="lb-trans"><p>虽然受益于新车需求放缓，原因是对进口车辆和从其他国家采购的备件征收更高的关税，但 CarMax 自身面临着用于翻新汽车的零部件成本上升的压力。管理层预计，销售和盈利能力将因其人工智能整合战略而获得重大提升。然而，消费者情绪低迷和贸易战可能升级对 CarMax 在剩余年度的财务表现构成风险。</p>
</div><p>The average price of CarMax’s stock for the last 52 weeks is $72.01. It has been trading below that level over the past several weeks. On Monday, the shares opened at $58.42.</p>
<div class="lb-trans"><p>CarMax 股票在过去 52 周的平均价格为 72.01 美元。在过去几周，该股一直在该水平以下交易。周一，股票开盘价为 58.42 美元。</p>
</div><p>The post Earnings Preview: CarMax rides pricing momentum, with omnichannel edge first appeared on AlphaStreet.</p>
<div class="lb-trans"><p>该文章《盈利预览：CarMax 借助定价势头和全渠道优势前行》首次出现在 AlphaStreet 上。</p>
</div>

财报预览：车美仕凭借定价势头和全渠道优势