America's Car-Mart falls after surprise Q2 loss

America's CAR-MART

05/12/2023 14:04

** Shares of automotive retailer America's Car-Mart  CRMT.O 
slide 29.3% to $57.17 premarket after co reports surprise Q2
loss
    ** Stock on track to hit its lowest level in over a year, if
losses hold 
    ** Co reports surprise Q2 loss of $4.30/shr compared with
year-ago profit of 48 cents/shr 
    ** Wall Street analysts estimated a profit of 79 cents/shr 
    ** Q2 revenue of $361.6 mln misses LSEG estimates of $363.8
mln 
    ** Inflationary environment impacted customers; allowance
for credit losses was increased to 26% in Q2, headwinds are
shorter-term in nature - CEO Doug Campbell
    ** Stock up 11.9% YTD as of last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))