Car-Mart Third-Quarter Earnings Rise 373%, Revenue Up 6.1%

America’s Car-Mart received a third-quarter earnings boost as a result of tax reform and growth in down payments and same-store sales. Meanwhile, the Bentonville-based buy here, pay here used car dealer closed two stores and opened two others, ending the period with 140 dealerships.

Late Monday (Feb. 19), Car-Mart reported earnings for the period that ended Jan. 31 were $13.369 million, or $1.82 per share, up from $2.826 million, or 35 cents per share. Excluding the effects of tax reform and a one-time retirement bonus to former CEO Hank Henderson, diluted earnings per share were 60 cents, beating analysts’ expectations of 55 cents, according to a consensus of five analysts.

Revenue rose 6.1% to $147.214 million, also beating analysts’ expectations of $136.24 million, according to a consensus of four analysts.    MORE

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