Welcome to our dedicated page for America's Car Mart news (Ticker: CRMT), a resource for investors and traders seeking the latest updates and insights on America's Car Mart stock.
America's Car-Mart Inc. (NASDAQ: CRMT) is a leading automotive retailer based in Bentonville, Arkansas, focusing on the Integrated Auto Sales and Finance segment of the used car market in the United States. For over 25 years, the company has been dedicated to providing quality vehicles, flexible financing arrangements, and exceptional personal service.
The company's operations are primarily conducted through its two subsidiaries: America's Car Mart Inc. and Colonial Auto Finance. Specializing in older model used vehicles, America's Car-Mart not only sells these cars but also offers financing solutions to nearly all of its customers. The revenue streams include the sale of used vehicles, service contracts, accident protection plans, interest income, and late fees from financing agreements.
Recently, America's Car-Mart announced a definitive agreement to acquire the dealership assets of Allied Union Group, Inc., operating as Central Auto Sales in Hot Springs, Arkansas. This acquisition aims to enhance Car-Mart's presence in Hot Springs and expand its reconditioning capabilities. The transaction aligns with Car-Mart's growth strategy through acquisitions, aiming to deliver exceptional returns for shareholders while offering future growth prospects for associates of acquired companies.
America's Car-Mart operates dealerships in twelve states, primarily focusing on smaller cities in the South-Central United States. Known for its superior customer service, the company emphasizes building strong personal relationships with its customers. It continues to be one of the largest publicly held automotive retailers in the U.S. focused exclusively on the Integrated Auto Sales and Finance segment.
Despite facing a challenging macro environment, the company remains committed to its customers' success. Recent initiatives have shown progress in gross profit, credit losses, and results from a new loan origination system. America's Car-Mart continues to be agile with its cost structure and investments, aiming to deliver long-term profitability and shareholder value.
For more information about America's Car-Mart, including investor presentations, visit their website at www.car-mart.com.
America’s Car-Mart has launched its 14th annual Holiday Toy Drive, aiming to collect 30,000 toys for 25 children's hospitals throughout November. All 154 Car-Mart dealerships across 12 states will act as donation points, building on last year's total of 22,200 toys. The initiative, started in 2009, reflects the company's commitment to community service and compassion, as stated by CEO Jeff Williams and COO Leon Walthall. Business partners like KBecks Transport and AutoZone will support the drive through toy donations and funding. The public is invited to contribute new, unwrapped toys.
America’s Car-Mart (NASDAQ: CRMT) announced the release of its fiscal 2023 second quarter financial results on November 16, 2022, after market closure. A conference call for investors is scheduled for November 17, 2022, at 11:00 a.m. Eastern. Participants can join via a provided webcast link or by registering for a telephone connection. The company specializes in integrated auto sales and finance, operating in twelve states, primarily in smaller cities in the South-Central U.S. More details can be found on their website.
America’s Car-Mart (NASDAQ: CRMT) has appointed Holly Thomson as Chief Digital Officer, a move aimed at leveraging digital opportunities within the company. Thomson's experience includes a previous role at Wells Fargo, where she led significant digital transformations. Her focus will be on the completion and rollout of a new Loan Origination System (LOS) to enhance online pre-approval processes for customers, thereby increasing customer acquisition. America’s Car-Mart operates dealerships in twelve states, specializing in quality pre-owned vehicles and flexible financing options for customers with challenging credit histories.
America’s Car-Mart (NASDAQ: CRMT) has appointed Steve Taylor as the Director of Acquisitions, highlighting the strategic importance of dealership acquisitions for growth. Taylor, with over 25 years of industry experience, aims to leverage his connections and expertise to expand Car-Mart's footprint. The company believes that acquiring well-managed dealerships can generate significant returns for shareholders while providing exit strategies for owners. America’s Car-Mart is dedicated to serving customers with flexible financing options and quality pre-owned vehicles across twelve states.
America’s Car-Mart has announced the appointment of Douglas Campbell as the new President, effective October 3, 2022. With 25 years of experience in the automotive industry, Campbell aims to enhance the company’s ability to serve customers and leverage growth opportunities. Previously, he held key roles at Coral Springs Auto Mall, AutoNation, and Avis Budget Group, where he focused on vehicle acquisition and disposal strategies. Car-Mart operates in twelve states, specializing in quality used vehicles and flexible financing options for customers with poor credit.
America’s Car-Mart (NASDAQ: CRMT) will release its fiscal 2023 Q1 financial results on August 17, 2022. A conference call with senior management is scheduled for August 18, 2022, at 11:00 a.m. Eastern. Participants can join the call via a provided webcast link or through a registration link to receive dial-in details. The replay of the conference call will be available for 12 months.
The company operates automotive dealerships across twelve states, focusing solely on the used car market, emphasizing customer service and financing for its clientele.
America's Car-Mart, Inc. (NASDAQ: CRMT) announced the pricing of $400 million in asset-backed notes as part of a subprime auto loan securitization. The notes, expected to be rated AA- to BB- by Kroll Bond Rating Agency, have a final maturity date of April 20, 2029. The weighted average coupon rate is set at 5.14% per annum. Proceeds will be used to pay down debt and fund a reserve account. This transaction aims to diversify funding sources and improve access to credit for future growth, with settlement anticipated on April 27, 2022.
America's Car-Mart, Inc. (NASDAQ: CRMT) will announce its fiscal 2022 fourth quarter and full year financial results on May 23, 2022, after market close. A conference call is scheduled for May 24, 2022, at 11:00 a.m. (Eastern). Interested parties can join the call by dialing (877) 776-4031, or access it via the company's website. The company operates automotive dealerships in twelve states, focusing on the integrated auto sales and finance segment, emphasizing customer service and strong relationships.
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