Welcome to our dedicated page for Copart news (Ticker: CPRT), a resource for investors and traders seeking the latest updates and insights on Copart stock.
Copart Inc. (NASDAQ: CPRT) operates the world's leading online vehicle auction platform, connecting sellers and buyers across 11 countries. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and market trends impacting the global vehicle remarketing sector.
Access verified press releases covering earnings reports, technology enhancements to the VB3 platform, strategic partnerships, and regulatory updates. Our curated news collection serves as a centralized resource for understanding Copart's role in the salvage vehicle ecosystem, from insurance company collaborations to international expansion efforts.
Key updates include auction volume trends, digital innovation initiatives, and sustainability practices within vehicle recycling. Bookmark this page for direct access to primary source materials and analysis-free reporting on Copart's business operations.
Copart has appointed Jeff Liaw as co-CEO, effective April 1, 2022, alongside Jay Adair, who continues his leadership role. Jeff, who joined Copart in 2016, previously served as President and CEO North America. His experience includes roles as CFO of FleetPride and a principal at TPG Capital. Chairman Willis Johnson praised Jeff's innovation and leadership skills, while Jay expressed confidence in their collaboration for future growth. Copart, a leader in online vehicle auctions with operations in over 11 countries, emphasizes innovation and customer service for profitable growth.
Copart, Inc. (NASDAQ: CPRT) reported robust financial results for the quarter ending January 31, 2022. Revenue reached $867.5 million, marking a 40.6% increase year-over-year. Gross profit improved to $403.3 million, up by 31.2%, while net income surged by 48.6% to $287.4 million. Fully diluted earnings per share (EPS) climbed to $1.19, a 46.9% increase from $0.81 the previous year. For the six-month period, revenue totaled $1,677.6 million, with net income rising 39.1% to $547.8 million. Non-GAAP EPS for the quarter was $1.10, up 37.5%, reflecting strong operational performance.
Copart, Inc. (NASDAQ: CPRT) will announce its second quarter earnings for fiscal 2022 on
Copart, Inc. (NASDAQ: CPRT) reported robust financial results for the quarter ended October 31, 2021. Revenue surged to $810.1 million, a 36.6% increase year-over-year, and gross profit rose to $385.0 million, reflecting a 29.7% jump. Net income reached $260.4 million, up 30.0%. Fully diluted earnings per share climbed to $1.08, a 30.1% increase from last year. Non-GAAP earnings per share improved 35.4% to $1.07 after adjusting for stock-based compensation. Copart will host a conference call on November 18, 2021, to discuss these results.
Copart, Inc. (NASDAQ: CPRT) will release its earnings report for Q1 fiscal 2022 on November 17, 2021, after market close. A conference call is scheduled for November 18, 2021, at 11:00 a.m. ET, to discuss the results, which will be available via webcast. Copart, a leader in online vehicle auctions, operates in over 170 countries with more than 250,000 vehicles available online daily, serving a wide range of clients including insurance companies and dealers.
Commerce Bank and Copart, Inc. (NASDAQ:CPRT) have launched a new payment system that drastically reduces the typical 30-day settlement period for salvage total loss claims in the insurance industry to just five days. This solution utilizes CommercePayments® PreferPay® to automate several cumbersome processes, enhancing efficiency and providing quicker fund access to consumers. Despite challenges from the COVID-19 pandemic, the partnership aims to process around 1.5 million payments per year. Commerce Bank has $34.5 billion in assets, while Copart leads the online vehicle auction sector.
Copart, Inc. (NASDAQ: CPRT) announced the appointment of Carl Sparks to its Board of Directors, effective September 10, 2021. Sparks brings a wealth of experience in venture capital and technology, currently serving as Managing Partner at Interlock Partners. He has held numerous leadership roles, including CEO of Academic Partnerships and President of Travelocity Global. Sparks has also previously served on several public company boards. This addition is expected to enhance Copart's strategic direction and technological innovation in online vehicle auctions.
Copart, Inc. (NASDAQ: CPRT) reported strong financial results for the quarter ending July 31, 2021, with revenue at $748.6 million, a 42.4% increase year-over-year. Gross profit reached $357.5 million (+42.7%) and net income was $256.0 million (+54.6%). Fully diluted EPS for the quarter was $1.06, up 53.6% from last year. For the fiscal year, revenue totaled $2.7 billion (+22.1%), gross profit $1.3 billion (+33.3%), and net income $936.5 million (+33.8%). Non-GAAP EPS for the quarter was $1.03, a 51.5% increase, and for the year $3.70, up 44.5%.
Copart, Inc. (NASDAQ: CPRT) will release its fourth quarter earnings for fiscal 2021 after market close on September 8, 2021. A conference call is scheduled for September 9, 2021, at 11:00 a.m. ET to discuss the results, accessible via www.copart.com/investorrelations. As a leader in online vehicle auctions, Copart connects sellers to over 750,000 Members across 170 countries, offering services for both salvage and clean title vehicles.
Copart Inc. (NASDAQ: CPRT) has announced the opening of a new auction location in Bismarck, North Dakota, aimed at enhancing service to local customers. Weekly auctions will take place every Monday at noon, providing a platform for buyers to engage with Copart's extensive inventory. Copart is a leading online vehicle auction company with over 750,000 members across 170 countries and operates at over 200 locations. This expansion is part of Copart's growth strategy to strengthen its market presence in the U.S.
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