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Copart (CPRT) Q1 Earnings & Revenues Drive Past Estimates
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Copart, Inc. (CPRT - Free Report) reported adjusted earnings per share of 47 cents in first-quarter fiscal 2019 (ended Oct 31, 2018), beating the Zacks Consensus Estimate of 46 cents. In the year-ago quarter, the bottom line was 33 cents.
Net income was $114.1 million, reflecting a surge of 47.2% or $36.6 million from first-quarter fiscal 2018.
Copart’s revenues rose 10.1% to $461.4 million from the year-ago quarter and surpassed the Zacks Consensus Estimate of $459 million. Compared with the prior-year quarter, service revenues increased to $394.8 million from $374.1 million. Revenues from vehicle sales were $66.6 million in comparison with $45 million in the first-quarter fiscal 2018.
Gross profit improved 20% to $195.9 million from $163.3 million a year ago. Total operating expenses increased to $310 million from $295.2 million recorded in the prior-year period.
Operating income increased to $151.4 million from $124 million a year ago.
Financial Details
Copart had cash and cash equivalents of $320.3 million as of Oct 31, 2018, compared with $274.5 million as of Jul 31, 2018. Long-term debt, revolving loan facility and capital lease obligations were $398.6 million as of Oct 31, 2018, similar to the figure recorded on Jul 31, 2018.
At the end of three months of fiscal 2019, Copart generated net cash flow of $107.7 million from operations compared with $93.4 million in the year-ago period.
General Motors has an expected long-term growth rate of 8.5%. Shares of the company have increased 12% over the past month.
Honda has an expected long-term growth rate of 2.9%. Shares of the company have rallied 2% over the past month.
AutoZone has an expected long-term growth rate of 12.2%. Over the past three months, shares of the company have gained 4.5%.
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Copart (CPRT) Q1 Earnings & Revenues Drive Past Estimates
Copart, Inc. (CPRT - Free Report) reported adjusted earnings per share of 47 cents in first-quarter fiscal 2019 (ended Oct 31, 2018), beating the Zacks Consensus Estimate of 46 cents. In the year-ago quarter, the bottom line was 33 cents.
Net income was $114.1 million, reflecting a surge of 47.2% or $36.6 million from first-quarter fiscal 2018.
Copart’s revenues rose 10.1% to $461.4 million from the year-ago quarter and surpassed the Zacks Consensus Estimate of $459 million. Compared with the prior-year quarter, service revenues increased to $394.8 million from $374.1 million. Revenues from vehicle sales were $66.6 million in comparison with $45 million in the first-quarter fiscal 2018.
Copart, Inc. Price, Consensus and EPS Surprise
Copart, Inc. Price, Consensus and EPS Surprise | Copart, Inc. Quote
Gross profit improved 20% to $195.9 million from $163.3 million a year ago. Total operating expenses increased to $310 million from $295.2 million recorded in the prior-year period.
Operating income increased to $151.4 million from $124 million a year ago.
Financial Details
Copart had cash and cash equivalents of $320.3 million as of Oct 31, 2018, compared with $274.5 million as of Jul 31, 2018. Long-term debt, revolving loan facility and capital lease obligations were $398.6 million as of Oct 31, 2018, similar to the figure recorded on Jul 31, 2018.
At the end of three months of fiscal 2019, Copart generated net cash flow of $107.7 million from operations compared with $93.4 million in the year-ago period.
Zacks Rank & Key Picks
Copart currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space include General Motors Company (GM - Free Report) ), Honda Motor Co., Ltd. (HMC - Free Report) and AutoZone, Inc. (AZO - Free Report) , each carrying Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
General Motors has an expected long-term growth rate of 8.5%. Shares of the company have increased 12% over the past month.
Honda has an expected long-term growth rate of 2.9%. Shares of the company have rallied 2% over the past month.
AutoZone has an expected long-term growth rate of 12.2%. Over the past three months, shares of the company have gained 4.5%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>