Ultime notizie per America's Car-Mart (NASDAQ:CRMT) Azioni

America's Car-Mart

America's Car-Mart Inc is an automotive retailer in the U.S. focused exclusively on the Integrated Auto Sales and Finance segment of the used car market. The company's operations are principally conducted through its two operating subsidiaries, America's Car Mart Inc and Colonial Auto Finance. It predominantly sells older model used vehicles and provides financing for substantially all of its customers. It earns revenue from the sale of used vehicles and in the majority of the cases a related service contract and an accident protection plan product, as well as interest income and late fees from the related financing.

America's Car-Mart Inc

Stephens &amp; Co. analyst Kyle Joseph initiates coverage on America's Car-Mart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) with a Equal-Weight rating and announces Price Target of $50.

News

Price Target

Initiation

Analyst Ratings

CRMT

Stephens & Co. Initiates Coverage On America's Car-Mart with Equal-Weight Rating, Announces Price Target of $50

General

America's Car-Mart shares are trading higher after the company appointed Jamie Fischer as COO.

Management

America's Car-Mart Appoints Jamie Fischer As COO

Offerings

America's Car-Mart Prices Public Offering Of 1.7M Shares At $43 Per Share, With Option For Additional 255K Shares; Proceeds To Repay Credit Facilities And Fund Corporate Purposes

WIIM

America's Car-Mart shares are trading lower after the company announced its proposed $65 million public offering.

In addition, Car-Mart intends to grant the underwriters a 30-day option to purchase up to an additional&nbsp;$9.75 million of shares of common stock.&nbsp;
Car-Mart intends to use the net proceeds from the proposed offering to repay a portion of the balance on its revolving credit facilities. Any remaining proceeds will be used for general corporate purposes.

America's Car-Mart Intends To Offer And Sell $65M Of Shares Of Common Stock In Public Offering

America&#8217;s Car-Mart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) shares are<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> trading lower on Wednesday.</a>
In the first quarter, the company reported a 15-cent loss per share, compared with earnings per share of 63 cents in the year-ago period and missing the profit consensus of 66 cents.
Quarterly revenues of $347.76 million (down 5.2% year over year) <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the street view of $338.78 million.</a> The revenue drop was primarily driven by the decrease in retail units sold.&nbsp;
Sales for the quarter were 14,391 units versus 15,912 units, down&nbsp;9.6%. This is the&nbsp;second quarter&nbsp;of sequential improvement in unit sales on a year-on-year basis.
&#8220;I&#8217;m encouraged with our rebound in sales volume from two quarters ago, despite the ongoing economic challenges facing the customer today.&nbsp;During the quarter, our new loan origination system (&#8220;LOS&#8221;) contributed to higher down payments and improved deal structures,&#8221; said President and CEO Doug Campbell.&nbsp;
The company&#8217;s same-store revenue fell 8.6% compared with growth of 8.2% in the year-ago period.
America&#8217;s Car-Mart reported a 7.2% increase in interest income, rising by $4.1 million.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40705415/dollar-tree-q2-earnings-revenue-and-eps-miss-cuts-annual-forecasts-as-customers-feel-macro-pressure" rel="noreferrer noopener">Dollar Tree Q2 Earnings: Revenue And EPS Miss, Cuts Annual Forecasts As Customers Feel Macro Pressure On Spending, Stock Tumbles</a>
Total collections grew by 4.3% to $172.9 million. The allowance for credit loss was favorably adjusted to 25.0%, down from 25.32%.
However, net charge-offs as a percentage of average finance receivables increased to 6.4% from 5.8%. Additionally, interest expense rose by $4.0 million, or 28.3%.
Gross profit margin as a percentage of sales was 35%, or $6,996 per unit, an improvement of 30 basis points, or $228 per unit.&nbsp;
The company exited the quarter with cash and equivalents of $98.62 million. Inventory as of quarter-end was $114.548 million. Average total collected per active customer per month was $562.
Price Action: CRMT shares are trading lower by 10.3% to $53.57 at last check Wednesday.
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America's Car-Mart Reports Q1 Loss Amid Falling Same-Store Sales, Stock Down Over 10%

U.S. stock futures were lower this morning, with the Nasdaq futures dipping over 100 points on Wednesday.
Shares of Core &amp; Main Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected second-quarter financial results and cut its FY24 net sales <a href="https://www.benzinga.com/quote/CNM/earnings">guidance below estimates.</a>
Core &amp; Main reported quarterly earnings of 61 cents per share which missed the analyst consensus estimate of 73 cents per share. The company reported quarterly sales of $1.964 billion which missed the analyst consensus estimate of $2.059 billion.
Core &amp; Main shares dipped 17.1% to $38.80 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Zscaler Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) shares fell 17.1% to $160.19 in pre-market trading following fourth-quarter earnings.</li>
<li>Ascendis Pharma A/S (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASND#NASDAQ">ASND</a>) declined 15.2% to $114.17 in pre-market trading after the company reported worse-than-expected second-quarter sales results and cut its FY24 SKYTROFA revenue guidance.</li>
<li>Asana Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) fell 14.6% to $11.36 in pre-market trading. Asana reported upbeat results for its second quarter but issued weak guidance for the third quarter.</li>
<li>Rev Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REVG#NYSE">REVG</a>) shares fell 13.3% to $26.19 in pre-market trading following weak quarterly sales.</li>
<li>PagerDuty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) fell 12% to $16.10 in today&#8217;s pre-market trading. PagerDuty reported better-than-expected earnings for its second quarter, while sales missed estimates.</li>
<li>Dollar Tree Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) shares dipped 10.8% to $72.78 in pre-market trading after the company reported worse-than-expected second-quarter financial results and cut FY24 outlook.</li>
<li>America&#8217;s Car-Mart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) shares fell 9.5% to $54.00 after the company reported a year-over-year decrease in quarterly EPS results.</li>
<li>Hormel Foods Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) fell 7.1% to $30.78 in pre-market trading after the company reported mixed third-quarter financial results and cut its FY24 sales guidance with its midpoint below estimates.</li>
</ul>
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Core & Main Reports Downbeat Results, Joins Rev Group, PagerDuty, Dollar Tree And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

America's Car-Mart shares are trading lower after the company reported a year-over-year decrease in Q1 EPS results.

America's Car-Mart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) reported quarterly losses of $(0.15) per share which missed the analyst consensus estimate of $0.66 by 122.73 percent. This is a 123.81 percent decrease over earnings of $0.63 per share from the same period last year. The company reported quarterly sales of $347.76 million which beat the analyst consensus estimate of $338.78 million by 2.65 percent. This is a 5.51 percent decrease over sales of $368.02 million the same period last year.

Earnings Beats

Earnings Misses

America's Car-Mart Q1 EPS $(0.15) Vs. Diluted Earnings Per Share Of $0.63 YoY, Sales $347.76M Beat $338.78M Estimate

BNED

CHWY

SCVL

URBN

VSCO

WOOF

Shares of specialty retail companies are trading higher following recent CPI data.

CDK statement: &#39;We are ahead of the anticipated schedule, and as of this morning, substantially all dealer connections are live on the Dealer Management System.&#39;
<a href="https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live" title="https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live">https://www.autonews.com/retail/cdk-outage-reboot-substantially-all-dealer-connections-are-live</a>

CMAX

STLA

TSLA

'CDK says 'substantially all dealer connections are live' as DMS reboot moves ahead of schedule' - Automotive News

Editor&#8217;s Note: This article has been updated to correct that the index&#8217;s price changes occurred during Tuesday&#8217;s session.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks recorded gains on Tuesday, with the S&amp;P 500 gaining to a new record level during the session.
On the economic data front, U.S. <a href="https://www.benzinga.com/news/24/06/39381240/us-stocks-mixed-retail-sales-increase-0-1-in-may">retail sales rose</a> 0.1% month-over-month in May compared to a revised 0.2% decline in April and missing market expectations of a 0.2% gain. U.S. industrial production increased 0.9% month-over-month in May, topping market estimates of a 0.3% gain.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares gained 3.5% on Tuesday to surpass Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), claiming the title of <a href="https://www.benzinga.com/news/24/06/39386946/microsoft-apple-step-aside-nvidia-is-now-the-most-valuable-public-company-in-the-world">most valuable public company</a> in the world. America&#8217;s Car-Mart Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) shares fell over 6% during Tuesday&#8217;s session after the company reported worse-than-expected fourth-quarter earnings.
Most sectors on the S&amp;P 500 closed on a positive note, with industrials, information technology, and financial stocks recording the biggest gains on Tuesday. However, communication services and consumer discretionary stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 57 points to 38,834.86 on Tuesday. The S&amp;P 500 gained 0.25% at 5,487.03, while the Nasdaq Composite climbed 0.03% at 17,862.23 during Tuesday&#8217;s session.
Investors are awaiting earnings results from Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), Jabil Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>), and Darden Restaurants, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>) today.
What Is The CNN Business Fear &amp; Greed Index?
At a current reading of 42.3, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 41.3.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Investor Sentiment Improves After S&P 500 Hits Another Record Close On Tuesday (CORRECTED)

U.S. stocks traded mixed toward the end of trading, with the S&amp;P 500 gaining around 0.1% on Tuesday.
The Dow traded down 0.02% to 38,771.09 while the NASDAQ fell 0.03% to 17,851.60. The S&amp;P 500 also rose, gaining, 0.13% to 5,480.41.
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Leading and Lagging Sectors Information technology shares jumped by 0.6% on Tuesday.
In trading on Tuesday, communication services shares fell by 1%.
Top Headline
America's Car-Mart Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) shares fell over 7% during Tuesday's session after the company reported worse-than expected fourth-quarter earnings.
The company reported a fourth-quarter FY24 sales decline of 5.8% year-on-year to $364.67 million, beating the analyst consensus estimate of $361.47 million. EPS of 6 cents missed the analyst consensus estimate of 89 cents.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Reliance Global Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) shares shot up 127% to $0.5081 after the company said it expects the pending acquisition of Spetner Associates to close in the second half of 2024, projecting it to increase annualized revenue to approximately $28 million.</li>
<li>Shares of Actelis Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) got a boost, surging 89% to $2.1650 after the IoT solutions provider disclosed its partnership with Carahsoft, a leading U.S. IT Software and Services Company.</li>
<li>Comtech Telecommunications Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMTL#NASDAQ">CMTL</a>) shares were also up, gaining 51% to $3.2701 after the company announced a new $222 million credit facility.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Taysha Gene Therapies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSHA#NASDAQ">TSHA</a>) shares dropped 26% to $2.9950 after the company announced longer-term clinical data from the ongoing REVEAL Phase 1/2 adolescent and adult trial and initial clinical data from the REVEAL Phase 1/2 pediatric trial of TSHA-102 in Rett syndrome.</li>
<li>Shares of DermTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMTK#NASDAQ">DMTK</a>) were down 51% to $0.1612 after the company filed for Chapter 11 protection and implemented a 20% workforce reduction to preserve cash.</li>
<li>Quantum Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) was down, falling 50% to $0.3918 following weaker-than-expected FY 2024 results.</li>
</ul>
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Commodities In commodity news, oil traded up 1.2% to $81.26 while gold traded up 0.7% at $2,344.10.
Silver traded up 0.5% to $29.55 on Tuesday, while copper rose 0.9% to $4.4890.
Euro zone
European shares closed higher today. The eurozone's STOXX 600 gained 0.69%, Germany's DAX rose 0.35% and France's CAC 40 gained 0.76%. Spain's IBEX 35 Index rose 0.99%, while London's FTSE 100 climbed 0.60%.
Annual inflation rate in the Eurozone accelerated to 2.6% in May from 2.4% in the previous month, while ZEW Indicator of Economic Sentiment rose by 4.3 points to a reading of 51.3 in June.
The ZEW Indicator of Economic Sentiment for Germany rose to 47.5 in June, notching the highest reading since February 2022.
Asia Pacific Markets
Asian markets closed mostly higher on Tuesday, with Japan's Nikkei gaining 1%, Hong Kong's Hang Seng Index declining 0.11%, China's Shanghai Composite Index gaining 0.48% and India's S&amp;P BSE Sensex gaining 0.4%.
Singapore&#8217;s non-oil domestic exports slipped 0.1% year-over-year for May versus a sharp 9.6% decline in the prior month.
Economics
<ul>
<li>U.S. retail sales rose 0.1% month-over-month in May compared to a revised 0.2% declined in April and missing market expectations of 0.2% gain.</li>
<li>U.S. industrial production increased 0.9% month-over-month in May, topping market estimates of a 0.3% gain.</li>
</ul>
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S&P 500 Edges Higher; America's Car-Mart Shares Tumble After Q4 Earnings

America&#8217;s Car-Mart Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) shares are trading lower after the company reported worse-than expected fourth-quarter EPS and a sales decline.
The company reported a fourth-quarter FY24 sales decline of 5.8% year-on-year to $364.67 million, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39375200/americas-car-mart-reports-fourth-quarter-and-fiscal-year-2024-results" rel="noreferrer noopener">beating the analyst consensus estimate of $361.47 million.</a>
The decrease in revenue was primarily driven by the decrease in retail units sold.&nbsp;
Same-store revenue declined 5.3% versus a growth of 12.2% reported a year ago. Customer count slipped 0.1%.
Average total collected per active customer per month amounted to $554 compared to $534 last year.
Total gross profit per retail unit sold was $7,132 compared to $6,354 last year and the profit margin expanded by 200 basis points to 35.5%.
The allowance for credit loss as a percentage of finance receivables, net of deferred revenue and pending accident protection plan claims, decreased from 25.74% at January 31, 2024, to 25.32% at April 30, 2024.
Selling, general and administrative expenses decreased 2.8% to $44.5 million.&nbsp;
EPS of $0.06 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the analyst consensus estimate of $0.89</a>.
Inventory fell 1.7% to $107.5 million. The company held $94.4 million in cash and equivalents as of April 30, 2024.
&#8220;Our sales results improved sequentially but fell short of our internal expectations for the quarter&#8230;We are also thrilled about our most recent acquisition&nbsp;and welcome our new associates from Texas Auto Center to the Car-Mart family. This transaction closed June 3, 2024, and is the largest acquisition to date for our company. Despite these positives, the persistent inflationary environment driven by macro trends disproportionately impacted our customer base,&#8221; said President and CEO Doug Campbell.
Price Action: CRMT shares are trading lower by 7.53% at $57.13 at last check Tuesday.

Why America's Car-Mart Shares Are Sliding Today

America's Car-Mart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) reported quarterly earnings of $0.06 per share which missed the analyst consensus estimate of $0.89 by 93.26 percent. This is a 81.25 percent decrease over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $364.67 million which beat the analyst consensus estimate of $361.47 million by 0.89 percent. This is a 6.09 percent decrease over sales of $388.31 million the same period last year.

America's Car-Mart Q4 EPS $0.06 Misses $0.89 Estimate, Sales $364.67M Beat $361.47M Estimate

With U.S. stock futures trading mixed this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Patterson Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>) to report quarterly earnings at $0.83 per share on revenue of $1.71 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Patterson shares gained 3.9% to $23.75 in after-hours trading.</li>
<li>JELD-WEN Holding, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>) named Samantha L. Stoddard as its Chief Financial Officer, succeeding Julie C. Albrecht as EVP, CFO effective July 1. JELD-WEN shares fell 4.5% to $3.15 in the after-hours trading session.</li>
<li>Analysts are expecting KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) to post quarterly earnings at $1.80 per share on revenue of $1.65 billion. The company will release earnings after the markets close. KB Home shares fell 0.1% to $69.42 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>SIGA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) disclosed an agreement to expand TPOXX&#8217;s access to the member seats of the Association of Southeast Asian Nations. SIGA Technologies shares gained 2.1% to $6.73 in the after-hours trading session.</li>
<li>Analysts expect America&#8217;s Car-Mart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) to post quarterly earnings at $0.89 per share on revenue of $361.47 million before the opening bell. America&#8217;s Car-Mart shares gained 4.9% to $64.80 in after-hours trading.</li>
</ul>
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Patterson Companies, KB Home And Other Stocks To Watch This Tuesday

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks recorded gains on Monday, with the S&amp;P 500 settling at a fresh record high level during the session. The S&amp;P 500 and Nasdaq notched their seventh weekly surge in eight weeks.
On the economic data front, the NY Empire State Manufacturing Index rose to -6 in June versus a reading of -15.6 in May and coming in better than market expectations of -12.50.
Shares of The Aaron's Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAN#NYSE">AAN</a>) jumped around 33% on Monday after the company announced that it entered into a definitive agreement to be acquired by IQVentures Holdings.
Most sectors on the S&amp;P 500 closed on a positive note, with industrials, information technology and consumer discretionary stocks recording the biggest gains on Monday. However, utilities and real estate stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 189 points to 38,778.10 on Monday. The S&amp;P 500 gained 0.77% at 5,473.23, while the Nasdaq Composite climbed 0.95% at 17,857.02 during Friday's session.
Investors are awaiting earnings results from Patterson Companies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>), KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) and America&#8217;s Car-Mart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 42, the index remained in the &#8220;Fear&#8221; zone on Monday, versus a prior reading of 38.6.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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S&P 500, Nasdaq Close At Record Highs As Wall Street Turns Bullish Amid Improving Investor Sentiment

BTIG analyst Vincent Caintic initiates coverage on America's Car-Mart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) with a Neutral rating.

BTIG Initiates Coverage On America's Car-Mart with Neutral Rating

America's Car-Mart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>), today announced that it has entered into a definitive agreement to purchase the dealership assets of Texas Auto Center ("TAC"). The transaction, which excludes legacy finance receivables, is expected to close in the first quarter of Car-Mart's 2025 fiscal year, which begins May 1, 2024.
Since founding Texas Auto Center in 1995, Bob and Erika Blankenship have grown their operation into an award-winning dealership group with locations in Austin and San Marcos, Texas.
"The acquisition of Texas Auto Center furthers our commitment to acquisitions being a part of our growth strategy. This acquisition will deliver exceptional outcomes for our customers, associates, and shareholders. TAC's high-performance culture, customer focus, and strong alignment of values makes it a fantastic addition to what is an already great team," said Douglas Campbell, President and Chief Executive Officer. "Bob and Erika are highly respected industry veterans with decades of experience delivering quality used vehicles and excellent service to their customers. We are excited to welcome them, and the entire Texas Auto Center team, to America's Car-Mart."
"We are very excited to enter into this relationship," said Bob Blankenship. "My wife, Erika, and I have devoted nearly thirty years to building our business and have been honored to forge relationships with our customers. With the help of our dedicated associates, we have grown to two large dealerships, proudly serving the Austin metro area."
"America's Car-Mart operates with integrity, respect, and compassion, making it the perfect fit for us," Mr. Blankenship explained. "Together, we share a mission to earn repeat business by providing quality vehicles, stress-free financing, and excellent customer service. We are committed to the success of this transaction and to satisfying the car-buying and account servicing needs of our customers for generations to come."
"This agreement reinforces our commitment to acquisitions as a part of our growth strategy that will not only strengthen America's Car-Mart, but the entire industry. This acquisition expands and strengthens our footprint in the Texas market," said Vickie Judy, Chief Financial Officer. "We will continue to partner with experienced owner-operators to transition their businesses in a way that creates value for their customers and future growth opportunities for their associates as well as being accretive to our revenue."

America's Car-Mart To Acquire Texas Auto Center; No Financial Terms Disclosed

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America's Car-Mart announces pricing of public offering of common stock

The latest update is out from America's Car-Mart ( ($CRMT) ). America's Car-Mart, Inc. has launched an underwritten public offering of 1.7 million ...

America's Car-Mart Shares Offering to Boost Finances

The 1-Minute Market Report September 22, 2024

An announcement from America's Car-Mart ( ($CRMT) ) is now available. America's Car-Mart, Inc. has announced Jamie Fischer as their new COO startin...

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America's Car-Mart names new COO

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America's Car-Mart initiated with an Equal Weight at Stephens

America's Car-Mart: Conservative Management Driving Success In Challenging Times

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Press Releases

America's Car-Mart, Inc. Schedules Release of Fourth Quarter Fiscal Year 2024 Results and Conference Call

America's Car-Mart, Inc. to Announce the Fourth Quarter and Full Fiscal Year 2024 Results

America's Car-Mart Reports Fourth Quarter and Fiscal Year 2024 Results

America's Car-Mart, Inc. Schedules First Quarter Fiscal Year 2025 Results and Conference Call

America's Car-Mart Reports First Quarter Fiscal Year 2025 Results

America's Car-Mart, Inc. Announces Proposed $65 Million Underwritten Public Offering Of Common Stock

Financing

America's Car-Mart, Inc. Announces Pricing of Public Offering of Common Stock

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America's Car-Mart, Inc. Completes $300 Million Term Securitization

America's Car-Mart, Inc. Schedules Second Quarter Fiscal Year 2025 Results and Conference Call

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