Copart, Inc. (CPRT) came out with quarterly earnings of $0.33 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.71%. A quarter ago, it was expected that this company would post earnings of $0.32 per share when it actually produced earnings of $0.34, delivering a surprise of 6.25%.Over the last four quarters, the company has ...

Exhibit 99.1 Copart, Inc. For Immediate Release Copart Reports Second Quarter Fiscal 2024 Financial Results Dallas, Texas February 22, 2024 — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended January 31, 2024. For the three months ended January 31, 2024, revenue, gross profit, and net income attributable to Copart Inc. were $1.02 billion, $464.2 million, and $325.6 million, respectively. These represent an increase in revenue of $63.4 million, or 6.6%; an increase in gross p ...

Analysts on Wall Street project that Copart, Inc. (CPRT) will announce quarterly earnings of $0.35 per share in its forthcoming report, representing an increase of 12.9% year over year. Revenues are projected to reach $1.04 billion, increasing 9.1% from the same quarter last year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a ...

DALLAS--(BUSINESS WIRE)--Copart, Inc. (NASDAQ: CPRT) announced today that it will release earnings for the second quarter of fiscal 2024 after 4:00 p.m. Eastern Time (3:00 p.m. Central) on Thursday, February 22, 2024. On Thursday, February 22, 2024, at 5:30 p.m. Eastern Time (4:30 p.m. Central), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and available for access by clicking “Listen Here” at www.copart.com/investorrelations. A replay of the ca ...

Copart, Inc. (CPRT) ended the recent trading session at $50.48, demonstrating a -0.84% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.3%.Shares of the company have appreciated by 7.02% over the course of the past month, underperforming the Business Services sector's gain of 7.93% and outperforming the S&P 500's gain of 5.78%.Analysts and investors alike will be keeping a c ...

Copart, Inc. (CPRT) closed the latest trading day at $48.99, indicating a +0.7% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.53%. Elsewhere, the Dow saw an upswing of 0.64%, while the tech-heavy Nasdaq appreciated by 0.19%.Prior to today's trading, shares of the company had lost 0.47% over the past month. This has lagged the Business Services sector's gain of 0.84% and the S&P 500's gain of 2.48% in that time.Analysts and investors alike will be keeping a close ey ...

Some investors may hesitate to invest in the industrial sector due to the economic uncertainty of 2024. Certain industrial companies will inevitably face challenges in the coming year. However, the right industrial stocks can deliver strong returns over the long run.Quality industrial stocks have wide economic moats, efficient operations and shareholder-friendly management teams. These stocks will prosper, regardless of market environments. Industrial companies, in particular, are poised to outperform. This ...

Copart, Inc. (CPRT) closed the most recent trading day at $46.83, moving -1.43% from the previous trading session. This move lagged the S&P 500's daily loss of 0.8%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 1.18%.Prior to today's trading, shares of the company had lost 2.62% over the past month. This has lagged the Business Services sector's gain of 2.64% and the S&P 500's gain of 3.4% in that time.The upcoming earnings release of Copart, Inc. will be of great interest to investo ...

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Financial Performance - Total service revenues and vehicle sales for the three months ended October 31, 2023, reached $1,020,416, an increase of 14.3% compared to $893,372 for the same period in 2022[10]. - Net income attributable to Copart, Inc. for the three months ended October 31, 2023, was $332,527, representing a 35.2% increase from $245,848 in the same period last year[10]. - Operating income for the three months ended October 31, 2023, was $395,376, up 26.9% from $311,503 for the same period in 2022[10]. - Comprehensive income attributable to Copart, Inc. for the three months ended October 31, 2023, was $296,174, compared to $216,277 for the same period in 2022[12]. - Net income for the three months ended October 31, 2023, was $332,532, an increase of 35% compared to $245,848 for the same period in 2022[19]. - Operating income increased to 39% of total revenues for the three months ended October 31, 2023, up from 35% in the same period last year[85]. - Net income rose to 33% of total revenues for the three months ended October 31, 2023, compared to 27% in the same period last year[85]. Revenue Breakdown - Total service revenues reached $859,536, up 18% from $726,840 in the prior year, with U.S. service revenues at $762,524 and international service revenues at $97,012[28]. - Vehicle sales totaled $160,880, a decrease of 3% from $166,532 in the same quarter last year, with U.S. vehicle sales at $78,382 and international vehicle sales at $82,498[29]. - Service revenues in the U.S. increased by $110.9 million, or 17.0%, while international service revenues increased by $21.8 million, or 29.0%[87]. Cash and Liquidity - Cash, cash equivalents, and restricted cash increased to $2,581,567 as of October 31, 2023, compared to $957,395 as of July 31, 2023[6]. - Cash and cash equivalents at the end of the period were $2,581,567, compared to $1,539,391 at the end of the same period last year, reflecting a significant increase[19]. - Cash, cash equivalents, and restricted cash increased by $1,624.2 million (169.6%) to $2,581.6 million as of October 31, 2023, compared to July 31, 2023[98]. - Working capital rose by $190.6 million (6.9%) to $2,960.5 million as of October 31, 2023, driven by cash generated from operations[98]. - Operating cash flows increased by $63.7 million (20.4%) to $375.2 million for the three months ended October 31, 2023, compared to the same period in 2022[98]. Assets and Liabilities - Total assets grew to $7,333,786 as of October 31, 2023, up from $6,737,879 as of July 31, 2023[7]. - Total stockholders' equity increased to $6,411,417 as of October 31, 2023, compared to $5,987,440 as of July 31, 2023[7]. - The company’s total liabilities as of October 31, 2023, were $897,147, an increase from $750,439 as of July 31, 2023[7]. - Total current assets increased to $3,584,890 as of October 31, 2023, up from $3,262,604 as of July 31, 2023, reflecting a growth of 9.9%[6]. Expenses - Operating expenses for the three months ended October 31, 2023, totaled $625,040, an increase of 7.4% from $581,869 in the same period last year[10]. - General and administrative expenses rose by $10.7 million, or 18.4%, for the three months ended October 31, 2023, primarily due to a $9.5 million increase in the U.S. and a $1.2 million increase internationally[94]. - Yard operations expenses increased by $35.7 million, or 9.6%, for the three months ended October 31, 2023, compared to the same period last year, driven by a $23.4 million increase in the U.S. and a $12.4 million increase internationally[91]. - Total operating expenses decreased to 61% of total revenues for the three months ended October 31, 2023, down from 65% in the same period last year[85]. Acquisitions and Investments - The Company acquired an 80% controlling ownership in Purple Wave, Inc. for $108.0 million, issuing 2.5 million shares of common stock, with a fair value of the merger consideration at $112.1 million[41]. - The company opened new operational facilities in various locations, including Corby, England, in October 2023, as part of its expansion strategy[82]. - The company plans to pursue global, national, and regional vehicle seller agreements to increase revenues and profitability[82]. Taxation - The effective income tax rates were 21.4% for the three months ended October 31, 2023, slightly down from 21.5% in the same period of 2022[71]. - Income taxes for the three months ended October 31, 2023, were $90.8 million, reflecting an increase of $23.5 million, or 35.0%, compared to the same period last year[96]. Stock and Dividends - As of October 31, 2023, the total number of shares repurchased under the stock repurchase program was 458 million, with 326 million shares still available for repurchase[70]. - The Company has not paid a cash dividend since becoming public in 1994, maintaining compliance with all covenants related to its credit agreement[56]. Other Notable Points - The company is currently under investigation by the U.S. Department of Justice regarding potential violations of money laundering laws, which may impact future operations[74]. - The average age of cars on the road increased from 9.7 years in 2003 to 12.5 years in 2023, impacting total loss frequency and vehicle auction selling prices[1].