America’s Car-Mart, of Rogers, Ark., also reported earnings for the three months ended July 31. Quarterly revenue rose 8.6 percent year over year to $368 million. Net income was $4.2 million, a 69 percent drop from the year-earlier period.
In a research note published Tuesday, Stephens Inc. analysts Vincent Caintic and Morgan O’Donovan wrote that Campbell could drive growth opportunities, including “through acquisitions.”
“We also like that current CEO Jeff Williams, who we regard highly for his work … will remain” on the board, the analysts wrote.
Shares of America’s Car-Mart fell 15 percent to $96.79 in afternoon trading Tuesday.
