Copart Reports Q1 Financials

By Staff Writer May 21, 2020

Copart Inc. reported a decrease in revenue, gross profit and net income in its first quarter financial results ending April 30.

For that quarter, revenue, gross profit, and net income were $550.4 million, $242.6 million, and $147.5 million, respectively. These represent a decrease in revenue of $2.8 million, or 0.5 percent; a decrease in gross profit of $9.0 million, or 3.6 percent; and a decrease in net income of $45.3 million, or 23.5 percent, respectively, from the same period last year. Fully diluted earnings per share for the three months were $0.62 compared to $0.81 last year, a decrease of 23.5 percent.

For the nine months ended April 30, 2020, revenue, gross profit, and net income were $1.7 billion, $757.4 million, and $534.4 million, respectively. These represent an increase in revenue of $180.5 million, or 12.0 percent; an increase in gross profit of $101.6 million, or 15.5 percent; and an increase in net income of $96.2 million, or 21.9 percent, respectively, from the same period last year. Fully diluted earnings per share for the nine months were $2.24 compared to $1.82 last year, an increase of 23.1 percent.

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Last modified on Friday, 22 May 2020 14:08

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