America’s Car-Mart reports Q2 loss of $4.30 per share; credit loss allowance increased

AMERICAS CARMART INC

2024-Q2 EPS reported -$3.65 revenue$729,607,000

Revenue up 2.8% to $361.6M; unit sales down 4.6% to 15,162.
GAAP loss per share $4.30 vs. $0.48 diluted EPS in prior year; includes $3.40 non-cash charge for allowance increase.
Net charge-offs as % of avg finance receivables rose to 7.2% from 5.8%; allowance increased to 26.04%.
Gross margin improved to 34.3% from 32.1%; gross profit per unit $6,835 vs $6,132.
Board elected Jonathan Z. Buba as independent director; also agreed to acquire Central Auto Sales in Hot Springs.

item 2.02 item 5.02 item 9.01

Executive movements

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Appointed

Jonathan Z. Buba

Director

CRMT · AMERICAS CARMART INC

Effective: 2023-11-30
Filed: December 5, 2023, 6:59 PM ET

On November 30, 2023, the Board of Directors of the Company elected Jonathan Z. Buba as a new, independent director, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.91

AMERICAS CARMART INC reported the second quarter ended October 31, 2023 results: revenue $361.6 million, EPS Loss per share $4.30vs.$0.48 diluted earnings per share.

Period: the second quarter ended October 31, 2023
Revenue: $361.6 million
EPS: Loss per share $4.30vs.$0.48 diluted earnings per share
Result: reported results

Exact text from the filing

Q2 FY23) Revenues increased 2.8% to $361.6 million Retail unit sales were down 4.6% Gross margin increased to 34.3% from 32.1% Customer count increased 6.0% to 104,596 Net charge-offs as a % of average finance receivables were 7.2% vs.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Jonathan Z. Buba was elected as Director at AMERICAS CARMART INC.

Action: elected
Role: Director

Exact text from the filing

On November 30, 2023, the Board of Directors of the Company elected Jonathan Z. Buba as a new, independent director, effective immediately.

View on SEC.gov

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AMERICAS CARMART INC filing history →

Source: SEC EDGAR

accession 0001171843-23-007430

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