America's Car-Mart Reports $19.9M in Q3 Income

America's Car-Mart Reports $19.9M in Q3 Income
Jeff Williams, CEO and president of America’s Car-Mart Inc. of Rogers (Beth Hall)

America's Car-Mart Inc. of Rogers on Tuesday reported third-quarter fiscal 2021 revenue of $228.3 million, up from the $186.7 million it reported for the same quarter in fiscal 2020.

Income for the quarter was $19.9 million, up from $12.7 million a year ago. Earnings per share was $2.85, up from $1.83.

"We are proud of our work, but we believe we are in the early stages of our transformation from a collections company to more of a sales company that is very good at collections," America's Car-Mart CEO Jeff Williams said. "When you combine our community-based bricks and mortar structure with a growing digital presence, for which we are investing significant resources, we are very optimistic about our place in the world and the advantages we will continue to leverage as we move forward."

The company reported selling 14,053 vehicles, up from 13,314 in the same quarter a year ago. The average sales price of the vehicles was $13,688, up from $11,750.

Same-store revenue growth for the quarter was 16.9%, up from 15.15% the previous year.

America's Car-Mart had 151 stores in operations in the quarter, an increase of 6 from the previous year. Williams said the company continues to make investments in its infrastructure and digital platform to better serve its customers.

"We will continue to make significant investments in key areas as we fulfill our vision to be America's best auto sales and finance company in the eyes of our associates and customers while improving the communities we serve," Williams said. "We believe that we are seeing some initial benefits from the various initiatives we have been working on and we will continue to push to get better."