America's Car-Mart Down 18.23% To $97.70 After Earnings Miss

America's Car-Mart (CRMT) said after close Wednesday that it earned $2 per share in quarter one 2023.

On the revenue line, the company reported $344.9 million, beating estimates by $22.5 million.

In the same quarter a year ago, the company earned $3.57 per share on revenue of $280.3 million.

The stock is down 18.23% to $97.70 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 54. Meanwhile, the average Wall Street analyst rated the stock a Hold.

America's Car-Mart Inc is an automotive retailer in the us focused exclusively on the Integrated Auto Sales and Finance segment of the used car market. The Company's operations are principally conducted through its two operating subsidiaries, America's Car Mart Inc and Colonial Auto Finance. It primarily sells older model used vehicles and provides financing for substantially all of its customers. The Company earns revenue from the sale of used vehicles, and in most cases a related service contract and an accident protection plan product, as well as interest income and late fees from the related financing.