Copart Inc Stock Price, News & Analysis

Copart, Inc. (NASDAQ: CPRT) reported its financial results for the quarter ended January 31, 2023. Revenue reached $956.7 million, a 10.3% increase year-over-year, while gross profit rose to $426.5 million, up 5.7%. Net income also saw a slight rise of 2.2%, totaling $293.7 million. For the six months ended January 31, 2023, revenue was $1,850.1 million, with a 10.3% year-over-year increase, although net income decreased by 1.5% to $539.5 million. Fully diluted earnings per share were $0.61 for the quarter, a 1.7% increase, while for six months, it decreased by 1.8% to $1.12.

Copart, Inc. (NASDAQ: CPRT) will release its second-quarter earnings for fiscal 2023 on February 20, 2023, after 4:00 p.m. ET. A conference call to discuss these results is scheduled for February 21, 2023, at 11:00 a.m. ET. The call will be available via webcast on their investor relations website. Founded in 1982, Copart is a global leader in online vehicle auctions, serving over 750,000 members across 190 countries, with over 250,000 vehicles listed daily. The company operates in over 200 locations worldwide, including the U.S., Canada, and several European and Middle Eastern countries.

Copart, Inc. (NASDAQ: CPRT) has announced the appointment of Leah Stearns as Chief Financial Officer and Paul Kirkpatrick as Chief Legal Officer, effective December 5, 2022. Stearns, a seasoned executive with experience at CBRE and American Tower, will oversee the finance and accounting departments. Kirkpatrick, formerly at BayoTech Hydrogen and Omnitracs, will manage legal affairs, succeeding Gregory DePasquale, who retires after 25 years. Copart, a leader in online vehicle auctions, continues its growth trajectory with these strategic hires.

Copart, Inc. (NASDAQ: CPRT) reported Q4 financial results, revealing revenue of $893.4 million, a 10.3% increase year-over-year. However, gross profit decreased by 4.0% to $369.5 million, along with net income falling 5.6% to $245.8 million. Fully diluted earnings per share dropped to $0.51 from $0.54 last year. The hurricane impact in September resulted in $25 million of additional costs. Non-GAAP earnings per share saw a decrease of 3.8%. A conference call is scheduled for November 17, 2022, to discuss these results.

Copart, Inc. (NASDAQ: CPRT) has released its inaugural Fiscal Year 2022 Environmental, Social, and Governance (ESG) report titled "Leading with Sustainable Growth." The report outlines Copart's commitment to sustainability, showcasing efforts in the circular economy through vehicle recycling, promoting diversity within its workforce, and providing disaster relief services. Key contributions include facilitating mobility and economic advancement, alongside investments in sustainable energy. Co-CEO Jeff Liaw highlighted Copart's dedication to environmental stewardship and governance principles established over its 40-year history.

Copart, Inc. (NASDAQ: CPRT) will release its earnings for Q1 fiscal 2023 after market close on November 16, 2022. A conference call to discuss these results is scheduled for November 17, 2022, at 11:00 a.m. Eastern Time. Interested parties can access the live webcast through the company's investor relations website. Copart specializes in online vehicle auctions and serves a global customer base from over 200 locations in 11 countries, facilitating the sale of more than 250,000 vehicles daily.

The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine has designated Copart Inc (CPRT) as the "Stock to Study" and Charter Communications Inc (CHTR) as the "Undervalued Stock" in the December 2022 issue. Noting the significant downturn in equity indexes in 2022, the committee emphasizes opportunities for investors to acquire stocks at discounted prices. BetterInvesting encourages investors to utilize its online tools for stock analysis. The committee's selections serve an educational purpose and are not endorsements for purchase.