America's Car-Mart, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2023
February 22, 2023 at 08:00 am EST
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America's Car-Mart, Inc. reported earnings results for the third quarter and nine months ended January 31, 2023. For the third quarter, the company reported sales was USD 275.47 million compared to USD 248.31 million a year ago. Revenue was USD 326.53 million compared to USD 287.29 million a year ago. Net income was USD 1.51 million compared to USD 19.14 million a year ago. Basic earnings per share from continuing operations was USD 0.24 compared to USD 2.95 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 2.82 a year ago.
For the nine months, sales was USD 873.5 million compared to USD 739.73 million a year ago. Revenue was USD 1,017.19 million compared to USD 849.32 million a year ago. Net income was USD 18.34 million compared to USD 68.62 million a year ago. Basic earnings per share from continuing operations was USD 2.87 compared to USD 10.49 a year ago. Diluted earnings per share from continuing operations was USD 2.79 compared to USD 9.97 a year ago.
America's Car-Mart, Inc. is an automotive retailer in the United States. The Company operates in the integrated auto sales and finance segment of the used car market. In this industry, the nature of the sale and the financing of the transaction, financing processes, the type of customer and the methods used to distribute the Companyâs products and services, including the actual servicing of the contracts, as well as the regulatory environment in which the Company operates, all have similar characteristics. The Companyâs operations are principally conducted through its two operating subsidiaries, Americaâs Car Mart, Inc., an Arkansas corporation (Car-Mart of Arkansas) and Colonial Auto Finance, Inc., an Arkansas corporation (Colonial). The Company primarily sells older model used vehicles and provides financing for substantially all of its customers. The Company operates approximately 156 dealerships located primarily in small cities throughout the South-Central United States.
AMERICA'S CAR-MART, INC. 
