Benzinga | Nov 18, 2021 06:45AM EST

America's Car-Mart Q2 Earnings Top Estimates

* America's Car-Mart Inc (NASDAQ:CRMT) reported second-quarter FY22 sales growth of 29.1% year-on-year, to $288.30 million, beating the analyst consensus of $269.76 million.

* The number of retail units sold rose 5.7% Y/Y. The gross profit per retail unit sold increased 11.3%.

* Same-store revenue growth for the quarter was at 28.2% versus 12.8% last year.

* EPS of $3.33 beat the analyst consensus of $3.20.

* Total costs and expenses rose 32.3% to $258.7 million.

* The company held $2.1 million in cash and equivalents as of October 31, 2021. The company's inventory stood at $108.9 million.

* "We ended the quarter with over 93,000 active customers, up almost 9,300 or 11% from this time last year. We are making good progress with our online loan origination system which will streamline the consumer application process allowing us to increase the funnel of potential Car-Mart customers," said CEO Jeff Williams.

* Price Action: CRMT shares closed lower by 2.40% at $123.37 on Wednesday.