America's Car-Mart, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended October 31, 2023
December 05, 2023 at 01:01 pm
Share
America's Car-Mart, Inc. reported earnings results for the second quarter and six months ended October 31, 2023. For the second quarter, the company reported sales was USD 302.2 million compared to USD 303.55 million a year ago. Revenue was USD 361.58 million compared to USD 351.84 million a year ago. Net loss was USD 27.46 million compared to net income of USD 3.14 million a year ago. Basic loss per share from continuing operations was USD 4.3 compared to basic earnings per share from continuing operations of USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 4.3 compared to diluted earnings per share from continuing operations of USD 0.48 a year ago.
For the six months, sales was USD 613.77 million compared to USD 598.03 million a year ago. Revenue was USD 729.61 million compared to USD 690.66 million a year ago. Net loss was USD 23.28 million compared to net income of USD 16.84 million a year ago. Basic loss per share from continuing operations was USD 3.65 compared to basic earnings per share from continuing operations of USD 2.64 a year ago. Diluted loss per share from continuing operations was USD 3.65 compared to diluted earnings per share from continuing operations of USD 2.56 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.