Copart Inc Stock Price, News & Analysis

Copart, Inc. (NASDAQ: CPRT) reported strong financial results for the quarter ending January 31, 2021. Revenue increased by 7.3% year-over-year to $617 million, while gross profit rose by 18.3% to $307.5 million. Net income also improved by 14.7%, reaching $193.4 million. Fully diluted EPS rose 14.1% to $0.81. For the six-month period, revenue, gross profit, and net income totaled $1.2 billion, $604.3 million, and $393.7 million, respectively, marking increases of 7.1%, 17.4%, and 1.8%. Non-GAAP EPS showed significant growth, increasing 25% for the quarter.

Copart, Inc. (NASDAQ: CPRT) will release its fiscal Q2 2021 earnings after market close on February 18, 2021. A conference call is scheduled for February 19, 2021, at 11:00 a.m. ET to discuss the results, available via webcast. Copart is a leader in online vehicle auctions, serving over 750,000 members across 170 countries, with operations in 11 countries and 200 locations worldwide. The company offers a platform for selling salvage and clean title vehicles to various buyers, including dealers and individuals.

Copart, Inc. (NASDAQ: CPRT) has expanded its global presence by opening four new international lounges in Minsk (Belarus), San Salvador (El Salvador), Odesa (Ukraine), and Lekki Lagos (Nigeria). These lounges, managed by AutoBidMaster, aim to facilitate the bidding, purchasing, and shipping of vehicles for local buyers interested in Copart's extensive inventory. This expansion reflects Copart's commitment to enhancing accessibility and streamlining vehicle acquisition for its international customers.

Copart, Inc. (NASDAQ:CPRT) has announced the expansion of its Macon, Georgia location to 65 acres, enhancing its capacity for vehicle storage and operations. General Manager Joshua Gardner stated that the expansion will improve customer service. The facility hosts weekly car auctions on Thursdays at 10 a.m. Eastern Time. Copart President Jeff Liaw emphasized the positive implications of this expansion for customers in central Georgia. Copart connects sellers to over 750,000 members in more than 170 countries and operates over 200 locations globally.

Copart, Inc. (NASDAQ: CPRT) reported financial results for the quarter ended October 31, 2020, revealing revenue of $592.9 million, an increase of 6.9%. Gross profit rose to $296.8 million, up 16.4%, while net income declined by 8.2% to $200.3 million. Fully diluted EPS decreased 8.8% to $0.83, but non-GAAP EPS improved 21.5% to $0.79. A conference call is scheduled for November 19, 2020, to discuss these results.

Copart, Inc. (NASDAQ: CPRT) will release its first quarter fiscal 2021 earnings on November 18, 2020, post-market close. A conference call is scheduled for November 19, 2020, at 11:00 a.m. ET to discuss the results, accessible via live webcast. Copart, a leader in online vehicle auctions, connects over 750,000 members globally, managing more than 150,000 vehicles for sale daily across 200 locations in 11 countries. The company serves various clients including insurance firms and finance companies, emphasizing its robust operational presence.

Copart, a global leader in online vehicle auctions, has opened its sixth facility in Lumberton, North Carolina, spanning 89 acres. This expansion aims to enhance service for buyers and sellers in the region. Copart President Jeff Liaw expressed gratitude to the team for their efforts in facilitating this growth, and General Manager Dave Morris emphasized the facility's strategic location near Interstate 95. Eligible buyers can register online to access auctions. Copart operates over 200 locations globally, providing a platform for the sale of over 170,000 vehicles daily.

Copart, Inc. (NASDAQ:CPRT) has appointed three new executives: Steve Powers as Chief Operating Officer, Scott Booker as Chief Marketing and Product Officer, and John North as Chief Financial Officer. Powers, with nearly 40 years at Copart, previously oversaw operations, while Booker brings extensive marketing experience from companies like Hotels.com. North, joining from Avis Budget Group, will lead finance functions to support the company’s growth. These appointments aim to enhance Copart's operational efficiency and strategic marketing initiatives, reinforcing its position in the online vehicle auction sector.

Copart Inc. (NASDAQ: CPRT) has launched a new 56-acre location in Jacksonville North, Florida, marking its 14th site in the state. This expansion aims to enhance Copart's capacity to store vehicles and support its growing business. The Jacksonville location will host weekly online vehicle auctions every Monday at 10 a.m. Eastern Time. With operations in over 200 locations globally, Copart connects sellers to more than 750,000 members worldwide, providing an innovative online auction platform for salvage and clean title vehicles.