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 announced Amendment No. 3 to its Loan and Security Agreement, extending the term of its revolving credit facilities to September 29, 2024, and increasing total permitted borrowings from $326 million to $600 million. This substantial increase in funding, aided by the addition of CIBC Bank USA and Axos Bank as lenders, supports the company's growth strategy and capital allocation for customer service enhancements. The amendment also allows for adjusted capital expenditures and restores the accordion feature to $100 million.
America’s Car-Mart, Inc. (NASDAQ: CRMT) has appointed Julia K. Davis to its Board of Directors, effective August 25, 2021, following the retirement of Ray C. Dillon. Ms. Davis brings extensive information technology expertise from her previous roles, including Chief Information Officer at R1 RCM and Aflac US. Her experience is expected to add value to the Board, enhancing the company's strategic direction. America’s Car-Mart focuses on the integrated auto sales and finance segment, serving customers with flexible financing options across twelve states.
America’s Car-Mart (CRMT) will announce its fiscal 2022 first quarter financial results on August 17, 2021, after market close. A conference call is scheduled for August 18, 2021, at 11:00 a.m. Eastern. Investors can join the call by dialing (877) 776-4031, using conference ID #9489631. An international number is available for non-US callers. Additionally, a replay of the call will be accessible for thirty days after the event. A webcast will also be available on the company's website.
America's Car-Mart is a leading automotive retailer focusing on integrated auto sales and finance.
America's Car-Mart, Inc. (NASDAQ: CRMT) will release its fiscal 2021 fourth quarter and full-year financial results on May 24, 2021, after market close. A conference call is scheduled for May 25, 2021, at 11:00 a.m. (Eastern), accessible via phone or webcast. The company operates automotive dealerships primarily in smaller cities across the South-Central U.S., focusing on quality used vehicle sales and integrated auto financing. This event is crucial for investors monitoring CRMT's performance and strategic direction.
America’s Car-Mart (NASDAQ: CRMT) has released its inaugural Corporate Responsibility Report, showcasing its dedication to sustainable business practices. The report highlights the company's focus on environmental, social, and governance (ESG) factors and its intention to implement measurable environmental improvement goals. CEO Jeff Williams emphasizes the importance of governance and operational excellence, stating that the company’s actions reflect a commitment to positively impacting customers and communities.
America’s Car-Mart, Inc. (NASDAQ: CRMT) announced the appointment of Dawn C. Morris to its Board of Directors, effective April 1, 2021. This fills a vacancy left by Jim von Gremp's retirement in August 2020. Ms. Morris, a former Chief Digital and Marketing Officer at First Horizon Corporation, brings extensive experience in digital transformation and customer-centric strategies. The company emphasizes her potential to enhance its digital presence and customer experience strategy.
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