Car-Mart(CRMT)

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Car-Mart(CRMT) - 2025 Q1 - Quarterly Report
2024-09-16 16:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 0-14939 AMERICA'S CAR-MART, INC. (Exact name of registrant as specified in its charter) Texas 63-0851141 (State or other juri ...
Car-Mart(CRMT) - 2025 Q1 - Earnings Call Transcript
2024-09-04 14:37
Financial Data and Key Metrics Changes - Total revenues decreased by $19 million, or 5.2%, largely due to a decline in retail units sold [11] - Interest income increased by 7.2%, primarily due to the increase in the consumer contract interest rate to 18.25% [12] - Average units sold per dealership per month decreased from 34.2 to 30.9, or 9.6% [12] - Net charge-offs as a percentage of average finance receivables for the quarter were 6.4% compared to 5.8% [15] - SG&A expense was $46.7 million, a slight increase compared to last year's first quarter [18] Business Line Data and Key Metrics Changes - Gross margin improved by 30 basis points for the quarter [5] - Average retail sales price increased by 2.4%, primarily due to increases in ancillary products [12] - Downpayments for the quarter increased by 20 basis points to 5.2% [13] - Total collections increased by 4.3% over last year, with the monthly average total collected per active customer rising to $562 from $535 [14] Market Data and Key Metrics Changes - Website traffic increased both year-over-year and sequentially, indicating strong consumer demand [4] - Application volumes were slightly softer, contributing to the decline in sales [4] - Delinquencies dropped 90 basis points to 3.5% at quarter-end [15] Company Strategy and Development Direction - The company aims to improve vehicle affordability by reducing the average retail price during the fiscal year [20] - Continued optimization of the loan origination system is a priority, with 40% of the portfolio now originated through this system [21] - The partnership with Cox Automotive is expected to enhance gross profit margins and improve vehicle affordability [6][21] - The company is actively looking for acquisition opportunities to enhance growth and shareholder returns [21] Management's Comments on Operating Environment and Future Outlook - The management acknowledges the challenging economic environment for consumers and is focused on operational initiatives to improve business aspects [20] - There is a belief that used car prices will continue to fall at a normalized rate for the balance of the year [29] - The management is optimistic about the benefits from the loan origination system and expects it to drive better credit performance [30] Other Important Information - Inventory levels at quarter-end were up $7.1 million compared to fiscal year-end, primarily due to a recent acquisition [16] - Cash-on-cash returns for originated contracts in the first quarter are expected to be 72.4% [17] - Interest expense increased by $4 million, or 28.3%, due to a rise in rates and an increase in debt [19] Q&A Session Summary Question: Can you explain the headwind in SG&A that's coming from your acquisitions? - The company acquires SG&A costs from acquisitions without the corresponding customer portfolio, impacting initial profitability [22] Question: Can you explain how you think about the portfolio and how it sits today? - The back book of originations from fiscal years '21, '22, and '23 now represents less than 33% of the portfolio, with improvements expected as time progresses [24][26] Question: How much can affordability improve with your strategies? - The company is focused on reducing procurement costs by $500 to $800 per vehicle to enhance affordability [37] Question: What is the visibility on sales volume? - Website traffic has shown over 25% growth year-over-year, indicating strong demand, but application volumes are slightly down [36] Question: How is the competitive environment affecting the company? - Smaller competitors are facing financing challenges, creating acquisition opportunities for the company [32]
America's Car-Mart (CRMT) Reports Q1 Loss, Tops Revenue Estimates
ZACKS· 2024-09-04 14:06
America's Car-Mart (CRMT) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of $0.57. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -126.32%. A quarter ago, it was expected that this auto retailer would post earnings of $0.06 per share when it actually produced earnings of $0.06, delivering no surprise. Over the last four quarters, the company has not bee ...
Car-Mart(CRMT) - 2025 Q1 - Quarterly Results
2024-09-04 11:30
EXHIBIT 99.1 America's Car-Mart Reports First Quarter Fiscal Year 2025 Results ROGERS, Ark., Sept. 04, 2024 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) ("we," "Car-Mart" or the "Company"), today reported financial results for the first quarter ended July 31, 2024. First Quarter Key Highlights (FY'25 vs. FY'24 Q1, unless otherwise noted) Revenue was $347.8 million, down 5.2% Interest income increased $4.1 million, up 7.2% Total collections increased 4.3% to $172.9 million Favorable adjustment ...
America's Car-Mart Reports First Quarter Fiscal Year 2025 Results
GlobeNewswire News Room· 2024-09-04 11:30
ROGERS, Ark., Sept. 04, 2024 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) ("we," "Car-Mart" or the "Company"), today reported financial results for the first quarter ended July 31, 2024. First Quarter Key Highlights (FY'25 vs. FY'24 Q1, unless otherwise noted) Revenue was $347.8 million, down 5.2% Interest income increased $4.1 million, up 7.2% Total collections increased 4.3% to $172.9 million Favorable adjustment to allowance for credit loss to 25.0%, down from 25.32% Net charge-offs as a % ...
Earnings Preview: America's Car-Mart (CRMT) Q1 Earnings Expected to Decline
ZACKS· 2024-08-28 15:00
America's Car-Mart (CRMT) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended July 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on September 4, 2024, might help the stock move higher if these key numbers are better ...
Car-Mart(CRMT) - 2024 Q4 - Annual Report
2024-07-15 20:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 2054 ____________________________ FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14939 ____________________________ AMERICA'S CAR-MART, INC. (Exact name of registrant as specified in its char ...
America's Car-Mart Is A Clunker
Seeking Alpha· 2024-06-18 21:09
As great as this was to see, the company's bottom line actually took a hit, with net income falling from $2.1 million to only $0.4 million. There were a couple of drivers behind this bottom-line pain. For starters, the provision for credit losses for the company increased from 26.4% of sales to 28%. Using the revenue generated in the final quarter of last year, that's an extra $5.8 million in pre-tax costs that investors would have seen this year compared to last year. In addition to this, interest expense ...
S&P 500 Edges Higher; America's Car-Mart Shares Tumble After Q4 Earnings
Benzinga· 2024-06-18 19:07
Loading... The Dow traded down 0.02% to 38,771.09 while the NASDAQ fell 0.03% to 17,851.60. The S&P 500 also rose, gaining, 0.13% to 5,480.41. Information technology shares jumped by 0.6% on Tuesday. Top Headline The company reported a fourth-quarter FY24 sales decline of 5.8% year-on-year to $364.67 million, beating the analyst consensus estimate of $361.47 million. EPS of 6 cents missed the analyst consensus estimate of 89 cents. Equities Trading DOWN Also Check This Out: How To Earn $500 A Month From Jab ...
Car-Mart(CRMT) - 2024 Q4 - Earnings Call Transcript
2024-06-18 14:33
America’s Car-Mart, Inc. (NASDAQ:CRMT) Q4 2024 Earnings Conference Call June 18, 2024 9:00 AM ET Company Participants Vickie Judy - Chief Financial Officer Doug Campbell - President and Chief Executive Officer Conference Call Participants John Rowan - Janney Montgomery Scott Operator Good day, and thank you for standing by. Welcome to America’s Car-Mart’s Fourth Quarter Fiscal 2024 Earnings Call. At this time all participants’ are in a listen-only mode. After the speakers’ presentation there will be a quest ...