What is America's Car-Mart's latest dividend and current dividend yield?

What is America's Car-Mart's gross profit margin?

What does America's Car-Mart do and what are its main business segments?

What factors drove the changes in America's Car-Mart's revenue and profit?

What were the key takeaways from America's Car-Mart's earnings call?

What is the revenue and EPS growth rate for America's Car-Mart year over year?

What is the market's earnings forecast for America's Car-Mart next quarter?

What were the key takeaways from America's Car-Mart’s earnings call?

- **Revenue decline but margin expansion**: 1.9% revenue decrease offset by 160 bps gross margin improvement; 10% YoY credit app growth signals demand resilience.
- **Customer quality shift**: 15% higher volume from top 3 tiers, 50% reduction in low-tier originations; NCOs at 6.6% reflect legacy portfolio challenges.
- **Tech-driven savings**: Pay Your Way platform to deliver 5% SG&A savings; Q1 SG&A growth expected to unwind 50% in H2.
- **Capital constraint risk**: $30M inventory financing cap limits sales growth; exploring alternatives to unlock $172M securitization capacity.
- **Positive trends**: 4x consecutive securitization coupon improvements, 72% portfolio under enhanced underwriting, and 26.5% YoY July app growth.

**【CEO Summary Section】**
- Total revenue decreased 1.9% YoY to $341.3 million due to 5.7% decline in retail units sold, but gross margin expanded to 36.6% (up 160 bps YoY) driven by disciplined pricing and ancillary product increases.
- Credit applications surged 10% YoY, with July seeing 26.5% YoY growth, reflecting higher-quality customer mix (15% more volume from ranks 5-7 vs. prior quarter).
- Tariffs added $500/unit procurement cost, constraining inventory under current capital facility; evaluating capacity expansion to unlock sales growth.
- LOS V2 underwriting shifted originations to higher-risk-adjusted return customers, reducing low-tier bookings by 50%.

**【CFO Financial Commentary】**
- SG&A expenses rose 10.1% YoY to $51.4M due to payroll growth (2/3) and tech investments (1/3), but expect 50% of Q1 growth to unwind in H2.
- Collections rose 6.2% YoY to $183.6M, with Pay Your Way platform driving 5% annual cost savings and doubling recurring payment enrollments.
- Net charge-offs (NCOs) at 6.6% (up 20 bps YoY) due to softer sales and legacy portfolio losses; delinquencies >30 days at 3.8% (up 30 bps YoY).
- Securitization progress: 2025-3 deal at 5.46% coupon (81 bps improvement vs. prior), with 4x consecutive coupon improvements and 400 bps spread tightening since 2024-1.
- Capital constraint: 30% advance rate and $30M cap on inventory financing limits working capital efficiency; exploring alternatives.

**【Q&A Highlights】**
- **Procurement Costs**: Post-quarter, pricing stabilized near Q1 levels; August/September demand maintained despite $500/unit cost headwind.
- **Credit Performance**: 72% of portfolio under enhanced LOS V2; NCOs expected to stabilize with new underwriting, but 30-day delinquencies temporarily elevated due to Pay Your Way transition.
- **SG&A Cadence**: Q2 SG&A ~Q1 level, with savings from Pay Your Way and LOS V2 implementations materializing in FY26.
- **Consumer Health**: Higher FICO scores in new originations (up 20 pts YoY) and 790 bps increase in top 3 customer ranks reflect improved portfolio quality.
- **Used Car Pricing**: Industry-wide 5-6% YoY increase expected to moderate in H2, but structural cost pressures remain.
- **Capital Solutions**: Actively pursuing alternative financing to expand inventory capacity and reduce reliance on constrained ABL.

America's Car-Mart, Inc. (CRMT) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CRMT

CRMT fundamentals

You can ask Aime