America’s Car-Mart, Inc. (NASDAQ:CRMT) reported a difficult quarter as weather disruptions, weaker sales volume and transition-related pressures hurt results.
Even so, the company highlighted improving unit economics and greater flexibility after recent changes to its capital structure.
• America’s Car-Mart stock is at significant support. Why did CRMT hit a new low?
Earnings Snapshot
The company reported third-quarter adjusted earnings per share of $1.53 loss, which missed the Street view of 28 cents loss. Quarterly sales of $286.792 million (down 12% year-over-year) missed the analyst consensus estimate of $331.927 million.
Sales volumes declined 22.1% to 10,275 units, reflecting constraints on origination capacity resulting from the company’s ongoing capital …