America's Car-Mart Inc (NASDAQ:CRMT) Q1 2020 Earnings Conference Call - Final Transcript

Aug 16, 2019 • 11:00 am ET


America's Car-Mart Inc (NASDAQ:CRMT) Q1 2020 Earnings Conference Call - Final Transcript


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Vickie D. Judy

approximately 53% of the company for $229 million at an average price of approximately $37 per share. We continue to have strong cash flows for the quarter, we added $17.8 million in finance receivables, repurchased $4.7 million of our common stock, funded $1 million in net CapEx and increased inventory by $7.2 million, a total of $30.7 million with only $5.8 million increase in debt.

Thank you. And now I turn it back to Jeff.

Jeffrey A. Williams

Okay. Well, thank you, Vickie. As mentioned in the press release, we did open two new dealerships during the quarter, one in Bryant, Arkansas, and one in Conway, Arkansas. These dealerships have gotten off to a good start and we expect great things from these locations as well as the other new lots opened in the last year. We will add additional locations in the future at a rate that matches our ability to support customers and associates at the highest levels. Our focus over the near term will continue to be to leverage our top performing general managers as we have a large number that can serve 1,000 customers or more in their existing markets. These proven leaders are executing at very high levels and they deserve our full support and attention as they pick up market share and help us build our future leaders.

As a company, with great customer experience as our guide, we are transitioning into being more aggressive and keeping customers for life and making the necessary investments with inventory, facilities and associates to make that happen. Once again, we've built an infrastructure that can support a significantly higher number of customers, and we believe we have an obligation to grow as communities are better when Car-Mart is there.

We will now open it up for questions. Operator?