CarMax (KMX) fiscal Q2 results may show further evidence that CEO Keith Barr's early repositioning efforts, including tighter used-car pricing discipline and sharper digital marketing, are beginning to gain traction, Oppenheimer said Friday in a report.

The improvements are unlikely to fully offset macro headwinds including elevated oil prices and inflation, the report said. Oppenheimer said it is watching closely for management commentary on whether recent improvements, supported by Barr's focus on inventory positioning, website navigation and cost control, can prove durable

Q2 results are due Tuesday. Oppenheimer forecasts EPS of $0.74, above Wall Street's $0.72 estimate, with the fiscal 2027 projection initiated at $2.87, below the $3.13 consensus.

Oppenheimer maintained its perform rating on CarMax stock.

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