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Copart, Inc. (CPRT) Reinforces Financial Flexibility Amid Steady Operating Performance
Yahoo Finance· 2026-02-04 10:44
Group 1 - Copart Inc. is recognized as one of the best used-car stocks to buy, according to hedge funds [1] - The company entered into a new $1.25 billion unsecured senior revolving credit agreement to replace a previous credit facility [1][3] - The new credit facility has interest rates based on a fixed rate plus a margin of 0.75% to 1.125% or a daily rate plus a margin of 0% to 0.125% [3] Group 2 - Copart's first-quarter fiscal 2026 results showed revenue of $1.16 billion, a 0.7% increase year over year, and a gross profit of $537 million [4] - Net income increased by 11.5% to $403.7 million, resulting in diluted earnings per share of $0.41, up from $0.37 a year earlier [4] - The company specializes in online vehicle auctions and remarketing services, connecting sellers with buyers through its proprietary VB3 digital auction platform [5]