Copart Slides After Q2 Miss, Shares Near 52-Week Lows

Copart shares are approaching critical lows. What’s behind CPRT weakness?Earnings And Revenue Fall Short; Gross Profit And Net Income SlideCopart reported earnings per share of 36 cents, missing the consensus estimate of 40 cents. In addition, the company reported revenue of $1.12 billion, missing the consensus estimate of $1.14 billion.Revenue declined 3.6% year-over-year. Gross profit fell 6.2% to $492.8 million, while net income attributable to Copart decreased 9.5% to $350.7 million.Technical Weakness D ...