Earnings Summary: Copart reports Q4 2024 financial results

Alpha Street
2024.09.05 12:36
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Copart, Inc. reported its Q4 2024 financial results, showing a 7.2% year-over-year increase in revenue to $0.07 billion. However, net income fell to $0.6 million ($0.33 per share) from $0.8 million ($0.36 per share) a year earlier. The gross profit decreased by 1%, and operating income dropped by 8% to $0.5 million. The company's total assets stood at $2.43 billion, with cash and equivalents totaling $1.51 billion.

Copart, Inc. (NASDAQ: CPRT), a leading online vehicle auction company, reported financial results for the fourth quarter of 2024

  • Fourth-quarter revenue increased 7.2% annually to $1.07 billion; Services and Vehicle Sales revenues rose 7.1% and 7.7% respectively
  • Net income attributable to shareholders decreased to $322.6 million or $0.33 per share in Q4 from $347.8 million or $0.36 per share a year earlier
  • At $453.6 million, the gross profit for the July quarter was down 1% year-over-year
  • The company reported an 8% drop in operating income to $359.5 million in Q4 from $390.6 million a year earlier
  • At the end of the quarter, Copart had total assets of $8.43 billion
  • The company ended the quarter with cash, cash equivalents, and restricted cash of $1.51 billion

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