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Copart (CPRT) Q4 Earnings & Revenues Beat Estimates, Up Y/Y
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Copart, Inc. (CPRT - Free Report) reported adjusted earnings per share of 35 cents in fourth-quarter fiscal 2017 (ended Jul 31, 2017) and beat the Zacks Consensus Estimate of 31 cents. The figure shows a steep rise of 20.7% from 29 cents recorded in the year-ago quarter.
Net income was $70.3 million, reflecting a decrease of 16.4% or $13.8 million from the fourth quarter of fiscal 2016.
Copart’s revenues rose 13.8% to $378.6 million from the year-ago quarter and surpassed the Zacks Consensus Estimate of $355.5 million. Service revenues went up 16.3% to $336.8 million, while revenues from vehicle sales declined 3.2% to $41.8 million.
Gross margin improved 18.4% to $167.5 million in the reported quarter from $141.5 million, a year ago. Operating expenses also increased to $267.8 million from $226.5 million, recorded in the year-ago quarter.
Operating income shot up to $110.8 million from $106.2 million, reported a year ago.
Fiscal 2017 Results
Copart reported a rise in EPS to $1.66 for fiscal 2017 from $1.11 in the previous year. The figure also exceeded the Zacks Consensus Estimate of $1.26.
Annual revenues increased 14.2% year over year to $1.4 billion, almost in line with the Zacks Consensus Estimate.
Financial Details
Copart had cash and cash equivalents of $210.1 million as of Jul 31, 2017 compared with $155.8 million as of Jul 31, 2016. Total debt, revolving loan facility and capital lease obligations declined to $550.8 million as of Jul 31, 2017 compared with $564.3 million as of Jul 31, 2016.
In fiscal 2017, Copart generated net cash flow of $492.2 million from operations compared with $332.5 million a year ago.
Price Performance
Copart has lost 17.5% of its value year to date versus the 6.4% growth of its industry.
Expected long-term growth rate for Allison Transmission, Toyota and BMW are 10%, 7% and 4.2%, respectively.
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Copart (CPRT) Q4 Earnings & Revenues Beat Estimates, Up Y/Y
Copart, Inc. (CPRT - Free Report) reported adjusted earnings per share of 35 cents in fourth-quarter fiscal 2017 (ended Jul 31, 2017) and beat the Zacks Consensus Estimate of 31 cents. The figure shows a steep rise of 20.7% from 29 cents recorded in the year-ago quarter.
Net income was $70.3 million, reflecting a decrease of 16.4% or $13.8 million from the fourth quarter of fiscal 2016.
Copart’s revenues rose 13.8% to $378.6 million from the year-ago quarter and surpassed the Zacks Consensus Estimate of $355.5 million. Service revenues went up 16.3% to $336.8 million, while revenues from vehicle sales declined 3.2% to $41.8 million.
Copart, Inc. Price, Consensus and EPS Surprise
Copart, Inc. Price, Consensus and EPS Surprise | Copart, Inc. Quote
Gross margin improved 18.4% to $167.5 million in the reported quarter from $141.5 million, a year ago. Operating expenses also increased to $267.8 million from $226.5 million, recorded in the year-ago quarter.
Operating income shot up to $110.8 million from $106.2 million, reported a year ago.
Fiscal 2017 Results
Copart reported a rise in EPS to $1.66 for fiscal 2017 from $1.11 in the previous year. The figure also exceeded the Zacks Consensus Estimate of $1.26.
Annual revenues increased 14.2% year over year to $1.4 billion, almost in line with the Zacks Consensus Estimate.
Financial Details
Copart had cash and cash equivalents of $210.1 million as of Jul 31, 2017 compared with $155.8 million as of Jul 31, 2016. Total debt, revolving loan facility and capital lease obligations declined to $550.8 million as of Jul 31, 2017 compared with $564.3 million as of Jul 31, 2016.
In fiscal 2017, Copart generated net cash flow of $492.2 million from operations compared with $332.5 million a year ago.
Price Performance
Copart has lost 17.5% of its value year to date versus the 6.4% growth of its industry.
Zacks Rank & Key Picks
Copart currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the auto space are Allison Transmission Holdings Inc. (ALSN - Free Report) , Toyota Motor Corporation (TM - Free Report) and BMW AG (BAMXF - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expected long-term growth rate for Allison Transmission, Toyota and BMW are 10%, 7% and 4.2%, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>