America's Car-Mart, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2024
March 08, 2024 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, 2024. For the third quarter, the company reported sales was USD 240.4 million compared to USD 274.28 million a year ago. Revenue was USD 299.61 million compared to USD 325.34 million a year ago. Net loss was USD 8.54 million compared to net income of USD 1.51 million a year ago. Basic loss per share from continuing operations was USD 1.34 compared to basic earnings per share from continuing operations of USD 0.24 a year ago. Diluted loss per share from continuing operations was USD 1.34 compared to diluted earnings per share from continuing operations of USD 0.23 a year ago.
For the nine months, sales was USD 854.17 million compared to USD 869.78 million a year ago. Revenue was USD 1,029.22 million compared to USD 1,013.47 million a year ago. Net loss was USD 31.82 million compared to net income of USD 18.34 million a year ago. Basic loss per share from continuing operations was USD 4.99 compared to basic earnings per share from continuing operations of USD 2.87 a year ago. Diluted loss per share from continuing operations was USD 4.99 compared to diluted earnings per share from continuing operations of USD 2.79 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. 
