America’s Car-Mart Inc. of Rogers (Nasdaq: CRMT) reported Thursday a loss of $22.5 million in the company’s fiscal second quarter.
The company’s income was a drop from a profit of $5.1 million in the same quarter a year ago. Per share, the loss came to $2.71. Adjusted for one-time gains and costs, the loss was 79 cents per share.
The income came on revenue of $350.2 million, an increase of slightly less than 1% from $347.3 million in 2025. The increase was driven by 3.9% higher interest income and an increase in the average retail sales price of 2.6%, or $457, per unit.
America’s Car-Mart said it increased prices due to higher average procurement costs.
The buy-here, pay-here auto dealer reported selling 13,637 vehicles in the quarter, down 1.1% from 13,784 vehicles sold a year ago. The average price of a sold vehicle was $20,075, up from $20,031 a year ago.
The company closed five “underperforming” locations during the quarter, dropping its store count to 154.
“Our second quarter financial results reflect the continued progress we are making to transform our business for the future, even as we navigate a fluid operating backdrop,” America’s Car-Mart CEO Doug Campbell said. “We are proactively repositioning America’s Car-Mart by investing in our infrastructure, optimizing our platform, and improving our capital structure.”
Same-store revenue growth was down 0.2%, an improvement from a decrease of 8.1% a year ago.
Campbell said the company closed a new $300 million term loan and fully repaid the outstanding balance under its revolving line of credit. He expects the move to provide Car-Mart with greater flexibility and control over its balance sheet.
“With these constraints lifted, we are moving decisively to optimize our cost structure, improve profitability, and pursue additional actions to further strengthen our capital structure,” Campbell said.
He continued: “While we still have work to do, I am confident that the actions underway today will position us for meaningful growth and improved profitability in the years ahead.”
Shares of Car-Mart jumped nearly 6% to $24.75 Thursday morning. Over the past 12 months, shares were down nearly 46%.
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