Why America's Car-Mart Shares Are Slumping Today
Portfolio Pulse from Nabaparna Bhattacharya
America's Car-Mart (NASDAQ:CRMT) shares are down after reporting Q4 FY23 adjusted earnings per share of $0.32, missing the analyst consensus of $1.13. Revenues rose 12.2% YoY to $388.3 million, beating the estimate of $352.87 million. The company faced challenges in the used car market and saw a dip in gross profit per car sold.
May 24, 2023 | 3:57 pm
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America's Car-Mart shares are down after missing Q4 FY23 earnings estimates. The company faced challenges in the used car market, impacting its performance.
America's Car-Mart reported lower-than-expected earnings for Q4 FY23, which is causing the stock price to drop. The company faced challenges in the used car market, which affected its ability to purchase quality vehicles at affordable prices. This led to a dip in gross profit per car sold and an increase in provision for credit losses as a percentage of sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100