Copart touches record high after Q1 results beat estimates

Copart

17/11/2023 15:29

** Shares of online vehicle seller Copart  CPRT.O  gain 3.7%
to $51.14 - hitting their record high after Q1 results beat
estimates
    ** Co reports Q1 FY24 revenue of $1.02 bln, beating LSEG
estimates of $990.7 mln
    ** Posts Q1 adj. earnings of 34 cents/shr vs. estimated 33
cents/shr
    ** Revenue from co's services segment rose 18.3%
year-over-year to $859.54 million in Q1
    ** Brokerage Jefferies says co well-positioned to benefit
from rise in whole car volumes and growing buyer and seller
bases
    ** Stock up 67.6%, including session gains

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))