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Edge12 Dec 2025
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America’s Car-Mart (CRMT) investor relations material
America’s Car-Mart Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary4 Dec, 2025
Executive summary
Closed a $300 million term loan, repaid revolving credit, and increased total cash to $251 million from $124.5 million at fiscal year start, improving capital flexibility.
Reported a net loss of $22.5 million for the quarter and $28.2 million for the six months, driven by non-cash and one-time charges, including $20 million in reserve adjustments and strategic repositioning.
Credit applications rose 14.6% year-over-year, with strong demand across all credit ranks despite lower inventory levels.
Five underperforming stores closed post-quarter, consolidating customers and inventory into higher-performing locations.
Interest expense decreased 13.1% year-over-year due to securitization improvements and favorable rates.
Financial highlights
Total revenue increased 0.8% to $350.2 million for the quarter; adjusted revenue up 4.8% year-over-year, excluding prior year’s one-time benefit.
Gross margin percentage decreased by 190 bps to 37.5% due to last year’s one-time benefit; adjusted margin improved by 100 bps year-over-year.
SG&A expenses totaled $57.2 million for the quarter, including $3.5 million in one-time charges; adjusted SG&A as a percentage of sales was 18.8%.
Net charge-offs as a percentage of average finance receivables increased to 7.0% from 6.6% year-over-year.
Loss per share was $2.71 for the quarter, or $0.79 adjusted, and $(3.41) for the six months.
Outlook and guidance
Plans to execute additional ABS transactions and add a revolving warehouse facility in the second half of the year.
SG&A cost control initiatives target reducing SG&A to approximately 16.5% of sales over time, with $31.4 million in expected savings from multi-phase plans.
Inventory rebuild targeted for Q3 to capitalize on expected elevated tax refunds in Q4.
Management expects inventory normalization and ongoing cost initiatives to support a return to positive GAAP earnings.
Liquidity is expected to be sufficient for growth and capital needs, with access to securitized borrowings and other financing.
Future financing strategy post-term loan
Expected sales impact from store consolidations
NCO trajectory with LOS V2 portfolio growth
When will cost cuts drive GAAP earnings?
How does term loan validate credit quality claims?
Quantify Q3 inventory rebuild impact on sales.
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Next America’s Car-Mart earnings date
Q3 20265 Mar, 2026
Next America’s Car-Mart earnings date
Q3 20265 Mar, 2026
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Frequently asked questions
America’s Car-Mart, Inc. engages in the sale of used automobiles and financing of purchased vehicles to customers unable to secure financing from traditional lending sources. In addition to providing guaranteed auto financing for the entire amount financed, it also offers service plans to its customers for a minimal charge.
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