America's Car-Mart Inc (NASDAQ:CRMT) Q2 2020 Earnings Conference Call - Final Transcript

Nov 19, 2019 • 11:00 am ET


America's Car-Mart Inc (NASDAQ:CRMT) Q2 2020 Earnings Conference Call - Final Transcript


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Vickie D. Judy

approximately $38 per share. We continue to have strong cash flows. For the six months, we have added $43.8 million in finance receivables, repurchased $14.7 million of common stock, funded $1.7 million in capex and increased inventory by $10.6 million. This is a total of $70.8 million with only a $24.1 million increase in debt. Thank you. And I'll turn it back to Jeff.

Jeffrey A. Williams

Okay. Well, thank you Vickie. Our hard work and attention to detail is allowing us to grow in a healthy manner. We've opened two locations this year and we have new dealerships in process in Chattanooga, Tennessee and in Cabot, Arkansas. Additionally, as mentioned in the press release, we've begun work on our new dealership in Edmond, Oklahoma. We have high expectations for new openings and we will continue to open new stores as we move forward. As we've said many times, we have significant market share opportunities from existing dealerships and we will continue to leverage these locations, our cost structure and the management talents that we already have in place. Most of our existing General Managers have the potential to serve 1,000 customers or more from their current dealerships over time. It's a great time to be at America's Car-Mart. We have such a great team and our associates are dedicated to helping customers succeed. Thanks to our customers for coming to us for their transportation needs and for our -- and to our associates for the hard work and dedication to this effort. There is real purpose in our work and we're pushing hard to get better every day. We will now open it up for questions. Operator?