Americas Car-MartNASDAQ: CRMT

America's Car-Mart, Inc. shares dropped 8% after disappointing financial results for the final quarter of the 2024 fiscal year. Revenue exceeded forecasts, but earnings per share fell short due to rising interest expense and high provisions. America's Car-Mart saw a decline in vehicle sales, an increase in debt, and a rise in interest expense, impacting profitability and investor confidence.

U.S. stocks traded mixed toward the end of trading, with the S&P 500 gaining around 0.1% on Tuesday.

America's Car-Mart, Inc. (NASDAQ:CRMT ) Q3 2024 Earnings Conference Call March 8, 2024 11:00 AM ET Company Participants Vickie Judy - Chief Financial Officer Doug Campbell - President and Chief Executive Officer Conference Call Participants John Murphy - Bank of America Securities John Rowan - Janney Montgomery Scott Derek Sommers - Jefferies Operator Good day, and thank you for standing by. Welcome to Americans -- America's Car-Mart's Third Quarter Fiscal 2024 Results Conference Call.

America's Car-Mart (CRMT) came out with a quarterly loss of $1.34 per share versus the Zacks Consensus Estimate of a loss of $1.10. This compares to earnings of $0.23 per share a year ago.

America's Car-Mart was supposed to report a big profit this quarter. However, it reported an even bigger loss instead.

America's Car-Mart Inc.'s stock tumbled 17% Tuesday and weighed on rivals, after the used-car retailer swung to a surprise fiscal second-quarter loss and posted revenue that lagged estimates.

ROGERS, Ark., Nov. 03, 2023 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ: CRMT) today announced it will release fiscal 2024 second quarter financial results on Tuesday, December 5, 2023, before the market opens and senior management will host a conference call at 11:00 a.m. ET to discuss the results.

Wall Street didn't like the company's lower earnings per share in the last quarter. The company's sales and gross profit per car sold are performing well.

For its fiscal Q1 2024, America's Car-Mart beat expectations on revenues, but missed badly on earnings. Management attributed the earnings decline to its need to increase its provisions against loan losses.