America’s Car-Mart Inc. (NASDAQ:CRMT) on Thursday reported a third-quarter loss that was larger than analysts had anticipated, as the used-car retailer posted revenue below expectations amid capital constraints and disruptions caused by severe winter weather.
Despite the results, the company’s shares rose 1.99% in premarket trading.
For the quarter ended January 31, 2026, the company reported an adjusted loss of $1.53 per share, significantly wider than the analyst consensus estimate of a $0.23 loss.
Revenue for the period totaled $286.7 million, missing analyst forecasts of $329.26 million and declining 12.0% from $325.7 million recorded in the same quarter a year earlier.
Vehicle sales volumes dropped sharply by 22.1% to 10,275 units. The decline reflected limited loan origination capacity during the company’s capital structure transition, as well as the impact of Winter Storm Fern, which forced widespread store closures across its markets in late January.
Interest income increased 3.1% to $64.2 million, while gross profit per unit rose 8.8% to $7,762.
However, net charge-offs as a percentage of average finance receivables climbed to 6.5%, compared with 6.1% in the same period last year. The company also recorded a $47.0 million non-cash charge to establish a valuation allowance against deferred tax assets.
“Our third quarter results reflect the impact of our ongoing capital structure transition on origination volumes,” said President and CEO Doug Campbell. “The sales volume decline this quarter is a direct result of the moderation of capital deployed on inventory purchases and not a reflection of demand.”
In January 2026, the company completed Phase 2 of its store consolidation plan, reducing its active dealership count to 136 from 154 locations.
America’s Car-Mart also closed a $161.3 million securitization in December 2025 and said it is working to secure additional financing sources to restore loan origination capacity.