Back to top

Image: Bigstock

Copart (CPRT) Q4 Earnings Miss Estimates, Revenues Beat

Read MoreHide Full Article

Copart, Inc. (CPRT - Free Report) reported adjusted earnings per share of 42 cents in fourth-quarter fiscal 2018 (ended Jul 31, 2018), missing the Zacks Consensus Estimate of 47 cents. The bottom line improved 20% from 35 cents recorded in the year-ago quarter.

Net income was $109.7 million, reflecting a surge of 56% or $39.4 million from fourth-quarter fiscal 2017.

Copart’s revenues rose 18.7% to $449.2 million from the year-ago quarter and surpassed the Zacks Consensus Estimate of $446.4 million. Service revenues went up 16% year over year to $391.7 million while revenues from vehicle sales gained 38% to $56.6 million in comparison with the prior-year quarter.

Gross profit improved 13% to $188.4 million from $167.5 million a year ago. Total operating expenses increased to $314.4 million from $267.8 million recorded in the prior-year period.

Operating income increased to $134.8 million from $110.8 million a year ago.

For fiscal 2018, Copart has reported adjusted earnings per share of $1.73, up from the prior-year figure of $1.29. In fiscal 2018, revenues were $1.8 billion, up from the 2017 figure of $1.5 billion.

Copart, Inc. Price, Consensus and EPS Surprise

 

Copart, Inc. Price, Consensus and EPS Surprise | Copart, Inc. Quote

 

Financial Details

Copart had cash and cash equivalents of $274.5 million as of Jul 31, 2018, compared with $210 million as of Jul 31, 2017. Long-term debt, revolving loan facility and capital lease obligations were $398.7 million as of Jul 31, 2018, which recorded a decline from $550.8 million as of Jul 31, 2017.

In fiscal 2018, Copart generated net cash flow of $535.1 million from operations compared with $ 492.1 million in fiscal 2017.

Zacks Rank & Other Stocks to Consider

Copart currently carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the auto space are Fox Factory Holding Corporation (FOXF - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Oshkosh Corporation (OSK - Free Report) . While each of Fox Factory and Allison Transmission sports a Zacks Rank #1 (Strong Buy), Oshkosh carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Fox Factory has an expected long-term growth rate of 16.8%. Over a year, shares of the company have soared 72.2%.

Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have surged 48.8%.

Oshkosh has an expected long-term growth rate of 18.3%. Over the past three months, shares of the company have risen 9.6%.

Will You Make a Fortune on the Shift to Electric Cars?

Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>

Published in