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Copart (CPRT) Q2 Earnings Meet Estimates, Sales Top, Up Y/Y
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Copart, Inc. (CPRT - Free Report) reported second-quarter fiscal 2020 adjusted earnings per share of 65 cents, meeting the Zacks Consensus Estimate. The figure also came in higher than the year-ago number of 52 cents. Rising service revenues across markets served by the company and expanding network of facilities aided the results. Service revenues came in at $510.03 million, outpacing the consensus estimate of $500 million.
Total revenues came in at $575.1 million, surpassing the Zacks Consensus Estimate of $572 million. The top line also came in 18.6% higher than the year-ago figure of $484.9 million. While service revenues accounted for nearly 88.7% of total revenues, vehicle sales totaled $65.1 million during the quarter, down from the year-ago level of $68.09 million.
Gross profit was up 24.8% year over year to $259.9 million. Total operating expenses rose to $365.2 million from the $320.1 million incurred in the prior-year period. Operating income increased to $209.9 million from the $164.7 million reported in the previous year.
Copart had cash and cash equivalents of $93 million as of Jan 31, 2019. Long-term debt, revolving loan facility and capital-lease obligations were $399.8 million. Its debt-to-capital ratio stands at 16.3%. During the reported quarter, the firm generated net cash flow of $356.9 million from operations compared with the year-ago period’s $215.2 million.
Zacks Rank & Stocks to Consider
Copart currently carries a Zacks Rank of 3 (Hold).
BRP has a projected earnings growth rate of 20.17% for 2020. Its shares have surged 95.7% over the past year.
Fox Factory has an estimated earnings growth rate of 9.67% for the ongoing year. The company’s shares have appreciated 16.1% in a year’s time.
SPX has an expected earnings growth rate of 6.52% for the current year. The stock has rallied 35.1% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Copart (CPRT) Q2 Earnings Meet Estimates, Sales Top, Up Y/Y
Copart, Inc. (CPRT - Free Report) reported second-quarter fiscal 2020 adjusted earnings per share of 65 cents, meeting the Zacks Consensus Estimate. The figure also came in higher than the year-ago number of 52 cents. Rising service revenues across markets served by the company and expanding network of facilities aided the results. Service revenues came in at $510.03 million, outpacing the consensus estimate of $500 million.
Copart, Inc. Price, Consensus and EPS Surprise
Copart, Inc. price-consensus-eps-surprise-chart | Copart, Inc. Quote
Total revenues came in at $575.1 million, surpassing the Zacks Consensus Estimate of $572 million. The top line also came in 18.6% higher than the year-ago figure of $484.9 million. While service revenues accounted for nearly 88.7% of total revenues, vehicle sales totaled $65.1 million during the quarter, down from the year-ago level of $68.09 million.
Gross profit was up 24.8% year over year to $259.9 million. Total operating expenses rose to $365.2 million from the $320.1 million incurred in the prior-year period. Operating income increased to $209.9 million from the $164.7 million reported in the previous year.
Copart had cash and cash equivalents of $93 million as of Jan 31, 2019. Long-term debt, revolving loan facility and capital-lease obligations were $399.8 million. Its debt-to-capital ratio stands at 16.3%. During the reported quarter, the firm generated net cash flow of $356.9 million from operations compared with the year-ago period’s $215.2 million.
Zacks Rank & Stocks to Consider
Copart currently carries a Zacks Rank of 3 (Hold).
Some better-ranked stocks in the Auto-Tires-Trucks sector include BRP Inc. (DOOO - Free Report) , Fox Factory Holding Corp. (FOXF - Free Report) and SPX Corporation (SPXC - Free Report) , each carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
BRP has a projected earnings growth rate of 20.17% for 2020. Its shares have surged 95.7% over the past year.
Fox Factory has an estimated earnings growth rate of 9.67% for the ongoing year. The company’s shares have appreciated 16.1% in a year’s time.
SPX has an expected earnings growth rate of 6.52% for the current year. The stock has rallied 35.1% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>