Copart (NASDAQ:CPRT – Get Free Report) issued its quarterly earnings results on Thursday. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02, FiscalAI reports. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year.
Here are the key takeaways from Copart’s conference call:
- Copart posted 2.1% revenue growth to $1.24 billion, with gross profit rising 3.7% and earnings per diluted share up 2.4% to $0.43, helped by higher average selling prices and share repurchases.
- U.S. insurance unit volumes declined 4.2% in the quarter, reflecting softer claims activity and policy-mix shifts, though management said the long-term insurance growth algorithm remains intact.
- Auction returns remained strong, with U.S. insurance ASPs up 4.1% year over year to a record level, supported by Copart’s broad international buyer base and higher pure-sale participation.
- International momentum was a standout, as units sold rose 5.9% and revenue increased 14.1% (7.9% ex-currency), with especially strong performance in the U.K., Germany, and Canada.
- The company ended the quarter with $5.5 billion of liquidity and no debt and continued aggressive buybacks, repurchasing more than 43.4 million shares year to date for over $1.6 billion.
Copart Trading Up 4.1%
CPRT opened at $34.40 on Friday. The stock has a market cap of $33.14 billion, a PE ratio of 21.50 and a beta of 1.02. Copart has a 1 year low of $32.20 and a 1 year high of $61.24. The stock’s 50 day simple moving average is $33.32 and its 200-day simple moving average is $37.23.
Analyst Ratings Changes
Read Our Latest Report on CPRT
Insider Activity
In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.60% of the company’s stock.
Institutional Trading of Copart
A number of institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 264 shares during the period. Geneos Wealth Management Inc. grew its position in Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 266 shares during the period. Parkside Financial Bank & Trust grew its position in Copart by 11.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after acquiring an additional 288 shares during the period. American Trust grew its position in Copart by 2.1% in the third quarter. American Trust now owns 14,230 shares of the business services provider’s stock valued at $640,000 after acquiring an additional 295 shares during the period. Finally, ICW Investment Advisors LLC grew its position in Copart by 4.3% in the second quarter. ICW Investment Advisors LLC now owns 7,382 shares of the business services provider’s stock valued at $362,000 after acquiring an additional 304 shares during the period. 85.78% of the stock is currently owned by institutional investors.
About Copart
Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.
Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.
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