Copart Shares Dip After Revenue Miss Despite Strong Profit Growth

Core Insights - Copart, Inc. reported first-quarter revenue of $1.16 billion, slightly below Wall Street forecasts of $1.18 billion, but earnings exceeded estimates with adjusted earnings per share at $0.41, up 11.7% year over year [1] Financial Performance - Net income attributable to Copart increased 11.5% year over year to $403.7 million [2] - Gross profit grew 4.9% to $537 million, while operating income improved 6% to $430.7 million [2] - Service revenues, the largest portion of total revenue, edged up 0.6% to $991.8 million, and vehicle sales revenue rose 1.7% to $163.2 million [2] Regional Performance - International operations outperformed U.S. business, with international service revenues climbing 7.9% year over year to $136.3 million, while U.S. service revenues declined slightly by 0.5% to $855.5 million [3]