Car-Mart Q3 2020 Earnings Report
Key Takeaways
America's Car-Mart reported a solid top-line growth with revenues up 15.9% and same store revenues up 15.1%. The company is focusing on quality vehicles and a broad selection to pick up market share. They added over 5,100 customers in the last twelve months.
Revenues increased by 15.9% due to improved operational execution and inventory management.
Same store revenues grew by 15.1%.
Net charge-offs as a percentage of average receivables decreased to 5.9% compared to 6.2% in the prior year quarter.
Selling, general, and administrative expenses decreased to 18.6% of sales, compared to 18.9% for the prior year quarter.
Car-Mart
Car-Mart
Forward Guidance
The company plans to open its Cabot, Arkansas dealership in the 4th quarter and also has locations in Edmond, Oklahoma, Chattanooga, Tennessee and Norman, Oklahoma in process for this upcoming fiscal year. They will continue to repurchase shares opportunistically.