Copart Inc. CPRT shares are trading lower after the company reported its fourth-quarter financial results after Wednesday’s closing bell. Here’s a look at the details from the report.
The Details: Copart reported quarterly earnings of 33 cents per share, which missed the analyst consensus estimate by 8.33%. Quarterly revenue came in at $1.068 billion, which missed the analyst consensus estimate of $1.081 billion. Gross profit and net income were $454 million and $323 million, respectively.
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For the fiscal year ending July 31, 2024, revenue, gross profit, and net income were $4.2 billion, $1.9 billion, and $1.4 billion, respectively. These represent an increase in revenue of $367.3 million, or 9.5%; an increase in gross profit of $170.3 million, or 9.8%; and an increase in net income of $125.3 million, or 10.1%, respectively, from the same period last year.
CPRT Price Action: According to Benzinga Pro, Copart shares are down 5.56% after-hours at $50.10 at the time of publication Wednesday.
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