America’s Car-Mart, Inc. (NASDAQ: CRMT) shares were sharply negative Thursday, on reporting financial results for the third quarter ended January 31, 2026.
Sales volumes declined 22.1% to 10,275 units, reflecting constraints on origination capacity resulting from the Company's ongoing capital structure transition as well as the significant weather event impacting the south-central states in late January
The company also completed Phase 2 store consolidations in January 2026; active dealership count reduced to 136; 18 total locations consolidated across Phases 1 and 2 as part of its ongoing operational improvement initiative
Total revenue was $286.8 million, down 12.0%; interest income increased 3.1% to $64.2 million
Gross profit per unit improved 8.8% to $7,762; gross margin percentage of 35.8% vs. 35.7%
• Total collections of $179.0 million, up 1.5% year-over-year
• Net charge-offs as a percentage of average finance receivables were 6.5% vs. 6.1%
• SG&A of $51.5 million; includes $2.8 million in non-recurring store consolidation charges; adjusted SG&A1 of $48.7 million, or 21.8% of sales
• Recorded a non-cash charge of $47.0 million to establish a valuation allowance against deferred tax assets.
• Loss per share of $9.25 and adjusted loss per share was $1.53
• Total cash including restricted cash of $237.0 million at January 31, 2026
CRMT lost $2.80, or 14.7%, to $16.24.
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