Markets
GM

Copart (CPRT) Q1 Earnings & Revenues Drive Past Estimates

Copart, Inc.CPRT 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 includeGeneral Motors Company GM ), Honda Motor Co., Ltd. HMC and AutoZone, Inc. AZO , 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>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

General Motors Company (GM): Free Stock Analysis Report

Honda Motor Co., Ltd. (HMC): Free Stock Analysis Report

AutoZone, Inc. (AZO): Free Stock Analysis Report

Copart, Inc. (CPRT): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

GM AZO CPRT HMC

Other Topics

Earnings Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More