America’s Car-Mart of Rogers (Nasdaq: CRMT) on Thursday reported fiscal second-quarter income of $5.1 million, improving on a loss of $27.5 million in the same quarter a year ago.
The income came on revenue of $347.3 million, down 3.5% from $359.8 million a year ago. Earnings per share came to 61 cents, down from a loss of $4.30 a share.
The buy-here, pay-here auto dealer reported selling 13,784 vehicles in the second quarter, down from 15,162 vehicles in the same quarter of 2024. The average sales price was $20,031, up from $19,035.
Same-store revenue dropped 8.4% after a growing 2.6% in the same quarter a year ago.
“As we navigated industry and economic pressures, we made strategic decisions to ensure we exited stronger and better positioned to profitably grow our market share during the second half of the fiscal year,” America’s Car-Mart CEO Doug Campbell said in a statement. “I am pleased with our progress, as we continue to benefit from our enhanced underwriting or loan origination system (LOS). We improved deal structures, generated higher down payments, and benefited from higher collections and gross margins. We continue to focus on improving affordability for customers by reducing the average retail price.”
The results snapped Car-Mart’s eight-quarter streak of declining profitability.
“We’re closely managing expenses during ongoing implementation of technology upgrades to strengthen our operations,” Campbell said. “We believe Car-Mart is well positioned for future growth and profitability.”
Shares of the company jumped more than 21% on Thursday to $55.49 before retreating slightly to $53.40. Year to date, shares were down nearly 26%.
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