Americas CarMart Files Q2 2025 10-Q

TL;DR

AMSC 10-Q filed for Q2 FY25 ending Oct 31, 2024. Check financials.

AI Summary

Americas CarMart Inc. reported its second quarter results for fiscal year 2025, ending October 31, 2024. The company's filing indicates a fiscal year end of April 30th. Specific financial figures for this quarter are not detailed in the provided text, but the filing is a standard 10-Q report.

Why It Matters

This filing provides investors with an update on Americas CarMart's financial performance and operational status for the second quarter of fiscal year 2025.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could impact the company's stock price.

Key Numbers

• 2024-10-31 — Fiscal Period End (Second quarter of fiscal year 2025)
• 2024-05-01 — Fiscal Year Start (Beginning of fiscal year 2025)
• 2024-04-30 — Fiscal Year End (Company's annual fiscal year end)

Key Players & Entities

• AMERICAS CARMART INC (company) — Filer
• 20241031 (date) — Reported Period End Date
• 20241209 (date) — Filing Date
• 0000799850 (company) — Central Index Key
• TX (location) — State of Incorporation
• AR (location) — Business Address State
• 72756 (location) — Business Address Zip Code
• CROWN GROUP INC /TX/ (company) — Former Company Name
• CROWN CASINO CORP (company) — Former Company Name
• SKYLINK AMERICA INC (company) — Former Company Name

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share CRMT NASDAQ Global Select

Filing Documents

• crmt20241031_10q.htm (10-Q) — 1578KB
• ex_752957.htm (EX-31.1) — 12KB
• ex_752958.htm (EX-31.2) — 12KB
• ex_752959.htm (EX-32.1) — 6KB
• 0001171843-24-006828.txt ( ) — 8211KB
• crmt-20241031.xsd (EX-101.SCH) — 77KB
• crmt-20241031_def.xml (EX-101.DEF) — 491KB
• crmt-20241031_lab.xml (EX-101.LAB) — 456KB
• crmt-20241031_pre.xml (EX-101.PRE) — 526KB
• crmt-20241031_cal.xml (EX-101.CAL) — 52KB
• crmt20241031_10q_htm.xml (XML) — 1378KB

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets (Unaudited) – October 31, 2024 and April 30, 2024 3 Condensed Consolidated Statements of Operations (Unaudited) – Three and Six Months Ended October 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) – Six Months Ended October 31, 2024 and 2023 5 Condensed Consolidated Statements of Equity (Unaudited) – Three and Six Months Ended October 31, 2024 6 Condensed Consolidated Statements of Equity (Unaudited) – Three and Six Months Ended October 31, 2023 7

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosure 38 Item 5. Other Information 38 Item 6. Exhibits 39

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements America ' s Car-Mart, Inc. Condensed Consolidated Balance Sheets (Unaudited) October 31, 2024 and April 30, 2024 (Dollars in thousands except share and per share amounts) October 31, 2024 April 30, 2024 Assets: (Unaudited) Cash and cash equivalents $ 8,006 $ 5,522 Restricted cash 121,678 88,925 Accrued interest on finance receivables 7,573 6,907 Finance receivables, net 1,132,618 1,098,591 Inventory 122,102 107,470 Income tax receivable, net - 2,958 Prepaid expenses and other assets 35,259 31,276 Right-of-use asset 65,889 61,185 Goodwill 22,859 14,449 Property and equipment, net 59,192 60,361 Total Assets $ 1,575,176 $ 1,477,644 Liabilities, mezzanine equity and equity: Liabilities: Accounts payable $ 34,174 $ 21,379 Deferred accident protection plan revenue 50,956 51,836 Deferred service contract revenue 55,645 68,945 Accrued liabilities 33,625 27,828 Income tax payable, net 1,563 - Deferred income tax liabilities, net 12,313 17,808 Lease liability 69,056 64,250 Notes payable, net 656,414 553,629 Revolving line of credit, net 107,365 200,819 Total liabilities 1,021,111 1,006,494 Commitments and contingencies (Note K) Mezzanine equity: Mandatorily redeemable preferred stock 400 400 Equity: Preferred stock, par value $ .01 per share, 1,000,000 shares authorized; none issued or outstanding - - Common stock, par value $ .01 per share, 50,000,000 shares authorized; 15,595,273 and 13,727,013 issued at October 31, 2024 and April 30, 2024, respectively, of which 8,253,186 and 6,394,675 were outstanding at October 31, 2024 and April 30, 2024, respectively 156 137 Additional paid-in capital 193,123 113,930 Retained earnings 658,484 654,369 Less: Treasury stock, at cost, 7,342,087 and 7,332,338 shares at October 31, 2024 and April 30, 2024, respectively ( 298,198 ) ( 297,786 ) Total sto

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) America ' s Car-Mart, Inc. A – Organization and Business America's Car-Mart, Inc., a Texas corporation (the "Company"), is one of the largest publicly held automotive retailers in the United States focused exclusively on the "Integrated Auto Sales and Finance" segment of the used car market. References to the Company typically include the Company's consolidated subsidiaries. The Company's operations are principally conducted through its two operating subsidiaries, America's Car Mart, Inc., an Arkansas corporation ("Car-Mart of Arkansas"), and Colonial Auto Finance, Inc., an Arkansas corporation ("Colonial"). The Company primarily sells older model used vehicles and provides financing for substantially all of its customers. Many of the Company's customers have limited financial resources and would not qualify for conventional financing as a result of limited credit histories or past credit difficulties. As of October 31, 2024, the Company operated 154 dealerships located primarily in small cities throughout the South-Central United States. B – Summary of Significant Accounting Policies General The accompanying condensed consolidated balance sheet as of April 30, 2024, which has been derived from audited financial statements, and the unaudited interim condensed financial statements as of October 31, 2024 and 2023, have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended October 31, 20

View Full Filing

View this 10-Q filing on SEC EDGAR