Overview
Copart fiscal Q1 revenue grows 0.7% yr/yr
EPS for fiscal Q1 beats analyst expectations
Net income for fiscal Q1 rises 11.5% yr/yr
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
INTERNATIONAL REVENUE - Copart saw a rise in international service revenues, contributing to overall revenue growth
OPERATING EXPENSES - Decrease in operating expenses supported higher operating income
INTEREST INCOME - Significant increase in interest income boosted net income
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
Beat
$0.41
$0.39 (7 Analysts)
Q1 Net Income
$402.21 mln
Q1 Gross Profit
$537 mln
Q1 Operating Expenses
$724.34 mln
Q1 Operating Income
$430.69 mln
Q1 Pretax Profit
$487.12 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Copart Inc is $57.72, about 28.3% above its November 19 closing price of $41.37
The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 26 three months ago
Press Release: ID:nBw9hKDB1a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
