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 announced the appointment of Brian Stone as Executive Vice President of Procurement and Inventory, effective March 21, 2022. Stone brings over 20 years of experience from CarMax, where he held various senior roles, enhancing procurement and operational strategies.
The CEO, Jeff Williams, praised Stone's leadership and industry reputation, indicating his alignment with the company’s goals in data analysis, inventory management, and leveraging partnerships. This strategic move aims to capitalize on significant market growth opportunities.
America’s Car-Mart (NASDAQ: CRMT) has announced its fiscal 2022 third quarter financial results will be released on February 16, 2022, after market close. A conference call for investors and analysts is scheduled for February 17, 2022, at 11:00 a.m. Eastern Time, which will be accessible by phone and via a webcast on the Company's website. The company operates automotive dealerships in twelve states, focusing on the used car market, emphasizing customer service and personal relationships.
America’s Car-Mart (NASDAQ: CRMT) announced the acquisition of dealership assets from Smart Auto, including locations in Johnson City and Knoxville, Tennessee. The company expects to close on the Johnson City dealership by year-end 2021, followed by the Knoxville location by December 31, 2022. This acquisition is aimed at expanding Car-Mart's footprint in Tennessee and enhancing customer service with Smart Auto's experienced team. Existing finance receivables will remain with the seller, and the deal emphasizes quality vehicles and financing options for customers.
On November 29, 2021, America’s Car-Mart opened its 153rd dealership in Norman, Oklahoma, marking its 30th location in the state. This new dealership is part of the company’s expansion strategy during fiscal year 2022 and will be managed by Jesse Cloud. The grand opening is scheduled for December 17-18, 2021. Car-Mart celebrates its 40th anniversary and was listed among America’s Best Small Companies by Forbes in 2021. The company focuses on quality used vehicles and flexible financing options, catering to customers with various credit histories.
America’s Car-Mart (CRMT) announced its Q2 FY2022 results with a 29% increase in revenue, primarily driven by a 21% rise in average retail sales price and a 39% increase in interest income. The company reported unit sales up by 6% and active customers growing by 11% to over 93,000. Gross profit per retail unit sold rose to $6,349. While the balance sheet remains strong with a 33% debt-to-receivables ratio, the company acknowledged challenges in vehicle supply affecting potential sales performance.
America's Car-Mart, a leading automotive retailer, launches its 13th annual Holiday Toy Drive, aiming to collect 25,000 toys for children in 25 hospitals across 12 states. The drive, which began in 2009, has previously gathered over 11,000 toys for 15 hospitals in 2020. The company encourages community donations of new, unwrapped toys at its dealerships until December, emphasizing the importance of supporting hospitalized children during the holidays. Car-Mart's previous contributions have made it the largest toy donor for the past two years.
America's Car-Mart, Inc. (NASDAQ: CRMT) has rescheduled the release of its fiscal 2022 second quarter financial results to November 17, 2021, post-market close. The management will conduct a conference call on November 18, 2021, at 11:00 a.m. (Eastern), where the public can listen in via a dedicated phone line. A replay of the call and a webcast will also be accessible afterward. America's Car-Mart operates automotive dealerships focused on the used car market across twelve states in the U.S., emphasizing customer service and financing options.
America’s Car-Mart (NASDAQ: CRMT) will release its fiscal 2022 second quarter financial results on November 16, 2021, after market close. A conference call hosted by senior management is scheduled for November 18, 2021, at 11:00 a.m. (Eastern).
Interested participants can join the call by dialing (877) 776-4031, using conference ID #1075918. International callers may dial (631) 291-4132. A replay will be available for 30 days following the call. Additionally, a webcast will be accessible on the company’s website.
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