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America’s Car-Mart, Inc. reports developments tied to its integrated used-vehicle sales and finance model. The company operates automotive dealerships in 12 states, primarily in smaller South-Central U.S. markets, and sells used vehicles while providing financing for substantially all of its customers.
Recurring news covers quarterly operating results, unit sales, gross profit, interest income, collections, finance receivables, delinquencies, charge-offs and credit-loss allowances. Company updates also address capital-structure actions, asset-backed securitizations through ACM Auto Trust transactions, secured lending arrangements, dealership footprint optimization, SG&A cost control, inventory capacity and customer-facing finance technology.
America's Car-Mart (NASDAQ: CRMT) has launched its annual Community Fan Drive, a charitable initiative running through June 30, 2025. The company is collecting 20-inch box fans across its 150+ dealerships in 12 states to help communities stay cool during summer. As part of this promotion, customers who donate a fan can purchase a quality used vehicle for as low as $499 down, aligning with their 'Savings That Will Blow You Away' campaign theme.
The initiative, running for over 25 years, allows Car-Mart to make vehicle ownership more accessible while supporting local communities. Donated fans will be distributed to local charities in early July. Anyone can donate fans at Car-Mart locations Monday through Saturday from 9 a.m. to 6 p.m., with no purchase necessary.
America's Car-Mart (NASDAQ: CRMT) has announced a significant leadership transition, with Jonathan Collins appointed as Chief Financial Officer (CFO) effective May 12, 2025. Current CFO Vickie Judy will transition to the role of Chief Accounting Officer (CAO). The change is part of Car-Mart's strategy to build a stronger foundation for long-term growth.
Under Judy's tenure since 2010, the company achieved a notable 450+% increase in its loan portfolio size. CEO Doug Campbell, who took the position in October 2023, emphasized the company's focus on strengthening operations and attracting talent to support its expanding business complexity. Collins brings extensive experience in driving strategic and financial performance in complex organizations, particularly in areas of capital markets, treasury, and financial planning.
America's Car-Mart (NASDAQ: CRMT) reported strong Q3 FY2025 results with notable improvements across key metrics. Total revenue increased 8.7%, driven by a 13.2% rise in sales volumes to 13,198 units, despite a 0.9% decrease in average retail sales price. The average vehicle retail price was $17,310.
Gross profit margin improved by 150 basis points to 35.7%, benefiting from enhanced vehicle procurement and disposal. Net charge-offs improved to 6.1% from 6.8%, while the allowance for credit losses decreased to 24.31%. The company completed a $200 million securitization with a 6.49% coupon rate and expanded its ABL facility to $350 million.
Notable operational metrics include stable down payments at 5.1%, average originating term of 44.6 months, and slight increase in delinquencies to 3.7% due to weather events. SG&A expenses rose to $46.5 million, partly due to recent acquisitions.
America's Car-Mart (NASDAQ: CRMT) has successfully extended and upsized its asset-based revolving credit facility (ABL Facility) to $350 million, up from the previous $320 million commitment. The facility will now mature on March 31, 2027.
As of January 31, 2025, approximately $75 million was drawn on the ABL Facility. The facility was oversubscribed by a syndicate of lenders with BMO Bank as administrative agent. This expansion, combined with a recently completed $200 million ABS transaction on January 31, 2025, has strengthened the company's funding and liquidity profile while improving financing efficiency.
America's Car-Mart (NASDAQ: CRMT) has announced it will release its fiscal 2025 third quarter financial results on Thursday, March 6, 2025, before market opening. President and CEO Doug Campbell and CFO Vickie Judy will host a conference call at 9:00 a.m. ET to discuss the results.
The company operates automotive dealerships across twelve states and is one of the largest publicly held automotive retailers in the United States focused on the Integrated Auto Sales and Finance segment of the used car market. They primarily operate in smaller cities throughout the South-Central United States, selling used vehicles and providing financing for substantially all customers.
America's Car-Mart (NASDAQ: CRMT) has successfully completed a $200 million term securitization transaction through ACM Auto Trust 2025-1. The transaction includes $150.77 million of Class A Notes with a 5.38% coupon rate and $49.23 million of Class B Notes with a 7.87% coupon rate, resulting in an overall weighted average coupon of 6.49%.
The transaction was over 10 times oversubscribed and showed a 95 basis point improvement in weighted average coupon compared to the October 2024 securitization. According to CFO Vickie Judy, this strong demand reflects confidence in the company's asset quality, particularly as their portfolio benefits from the migration to a new loan origination system (LOS).
America's Car-Mart (NASDAQ: CRMT) reported Q2 FY2025 results with total revenue declining 3.5% to $347.3 million. The company posted diluted earnings per share of $0.61, compared to a loss of $4.30 in the previous year. Key highlights include:
- Interest income increased 3.6%
- Total collections rose 3.3% to $173.8 million
- Gross margin improved to 39.4%
- Net charge-offs decreased to 6.6% from 7.2%
- Retail units sold decreased 9.1% to 13,784
The company made an accounting adjustment to its service contract program, resulting in $13.2 million additional revenue recognition. Excluding this adjustment, the adjusted loss per share was $0.24. The average vehicle retail sales price decreased to $17,251, marking the second consecutive quarterly decline.
America's Car-Mart (NASDAQ: CRMT) has announced it will release its fiscal 2025 second quarter financial results on Thursday, December 5, 2024, before market opens. President and CEO Doug Campbell and CFO Vickie Judy will host a conference call at 9:00 a.m. ET to discuss the results. The company operates automotive dealerships in twelve states and is one of the largest publicly held automotive retailers in the United States focused on the Integrated Auto Sales and Finance segment of the used car market.
America's Car-Mart, Inc. (NASDAQ: CRMT) has successfully completed a $300 million term securitization transaction. The issuance involves asset-backed notes with an overall weighted average coupon of 7.44% and an advance rate of 59.15%. ACM Auto Trust 2024-2, an indirect subsidiary of the Company, issued $228.2 million of Class A Notes with a 6.06% coupon rate and $71.8 million of Class B Notes with a 9.21% coupon rate.
This marks the Company's second term securitization of 2024, with significant improvements in benchmark rate and spread, resulting in a 198 basis point improvement in the weighted average coupon compared to their January 2024 transaction. The notes have not been registered under the Securities Act and are subject to specific offering restrictions.
America's Car-Mart, Inc. (NASDAQ: CRMT) has announced the appointment of Jamie Fischer as Chief Operating Officer (COO), effective October 7th, 2024. Fischer, who joins from DriveTime, will oversee dealership operations and related support functions including inventory management and marketing. With over 20 years of experience in the auto retail industry, she brings expertise in operations, leadership development, and customer-centric service.
Fischer most recently served as Head of Operations at DriveTime, responsible for 149 dealerships and more than 15 reconditioning centers. She holds a bachelor's degree in management and organizational leadership from St. Petersburg College and a Master of Science from the University of Alabama in Human Environmental Sciences.
CEO Douglas Campbell expressed enthusiasm for Fischer's arrival, highlighting her breadth of experience and potential to accelerate progress on current and future initiatives. Fischer shared her excitement about joining Car-Mart and contributing to the company's mission of keeping customers on the road.