America's Car-Mart Q1 EPS $0.63 on $368M revenue; CEO succession to Doug Campbell

AMERICAS CARMART INC

2023-Q1 EPS reported $0.63 revenue$368,025,000

Diluted EPS $0.63 vs $2.07 a year ago; revenue $368M, up 8.6% YoY.
Provision for credit losses 30.9% of sales (vs 25.9%); net charge-offs 5.8% (vs 5.1%).
Interest income rose 27.3% to $56.5M; gross margin improved 120 bps sequentially to 36%.
President Doug Campbell promoted to CEO effective Oct 1, 2023; Jeff Williams becomes CEO Emeritus through FY2024.
Company expects higher future gross margins; continuing LOS and ERP technology investments.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Jeffrey A. Williams

Chief Executive Officer

CRMT · AMERICAS CARMART INC

Effective: 2023-10-01
Successor: Douglas W. Campbell
Filed: September 5, 2023, 7:59 PM ET

Upon Mr. Campbell’s promotion to CEO, the Company’s current CEO, Jeffrey A. Williams, will serve as CEO Emeritus and an advisor to senior management effective October 1, 2023, for the remainder of fiscal year 2024.

Appointed

Douglas W. Campbell

Director

CRMT · AMERICAS CARMART INC

Effective: 2023-10-01
Filed: September 5, 2023, 7:59 PM ET

the Board also approved increasing the number of directors serving on the Board to eight directors and appointed Mr. Campbell to serve as a director effective October 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

AMERICAS CARMART INC reported financial results for first fiscal quarter of the fiscal year ending April 30, 2024.

Period: first fiscal quarter of the fiscal year ending April 30, 2024
Result: reported results

Exact text from the filing

On September 5, 2023, America’s Car-Mart, Inc. (the “Company”) issued a press release announcing its operating results for the first fiscal quarter of the fiscal year ending April 30, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey A. Williams departed as Chief Executive Officer at AMERICAS CARMART INC.

Action: stepped down
Role: Chief Executive Officer

Exact text from the filing

Upon Mr. Campbell’s promotion to CEO, the Company’s current CEO, Jeffrey A. Williams, will serve as CEO Emeritus and an advisor to senior management effective October 1, 2023, for the remainder of fiscal year 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Douglas W. Campbell was appointed as Director at AMERICAS CARMART INC.

Action: appointed
Role: Director

Exact text from the filing

the Board also approved increasing the number of directors serving on the Board to eight directors and appointed Mr. Campbell to serve as a director effective October 1, 2023.

View on SEC.gov

20 earnings releases filed in the last 30 days. Browse all earnings releases →

AMERICAS CARMART INC filing history →

Source: SEC EDGAR

accession 0001171843-23-005551

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