Used-car retailer America’s Car-Mart (NASDAQ:CRMT) will be announcing earnings results tomorrow before market hours. Here's what to expect.
Last quarter America's Car-Mart (NASDAQ:CRMT) reported revenues of $366.8 million, up 8.6% year on year, in line with analyst expectations. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is America's Car-Mart buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting America's Car-Mart's revenue to grow 7.2% year on year to $376 million, slowing down from the 23.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.77 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.6%.
Looking at America's Car-Mart's peers in the automotive and marine retail segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Lithia delivered top-line growth of 13.5% year on year, beating analyst estimates by 1.3% and Camping World reported revenue decline of 6.8% year on year, exceeding estimates by 1.7%. Lithia traded down 6.5% on the results, and Camping World was up 11.1%.
Read the full analysis of Lithia's and Camping World's results on StockStory.
There has been positive sentiment among investors in the automotive and marine retail segment, with the stocks up on average 11.4% over the last month. America's Car-Mart is up 3.6% during the same time, and is heading into the earnings with analyst price target of $92, compared to share price of $76.9.
The author has no position in any of the stocks mentioned.
