2Q Revenue Up 10.2 Percent For Americas Car-Mart

Bentonville-based automotive retailer America’s Car-Mart released its earnings report for the second quarter Thursday, showing $0.83 earnings per share for the quarter.

The company had revenue of $133.8 million for the quarter, up 10.2 percent compared to the same quarter last year.

“We are pleased with the results for the quarter especially the improvements with our sales productivity,” president and CEO Hank Henderson said in a news release. “By focusing on affordability and offering a good mix of vehicles at all price points, we were able to increase the average retail units sold per store per month to 29.6 from 27.6 for the prior year quarter. Offering a solid assortment including lower priced vehicles allows our transactions to be more affordable for our customers, which we hope will increase success rates into the future.

“Our general managers and our area operations managers continue to raise the bar in the field and their efforts are to be commended.”

Henderson said the company finished the quarter with 136 dealerships, an increase of 7 from this time last year. Car-Mart has opened two new dealerships so far in fiscal 2015, and the company expects to open 8 this current fiscal year before returning back to a more historical store opening rate for 2016 and beyond.

Stores are currently being developed in Oklahoma (Ada and Miami) and Georgia (Valdosta).

“”Again, we are pleased with the top line growth as we sold 12,084 retail units during the quarter, a 13.9 percent increase,” Henderson said. “We remain convinced that we are moving the company in the right direction, and we are excited about our future.”