Copart (CPRT) Q4 Earnings Miss Estimates, Revenues Beat
Copart, Inc. CPRT reported adjusted earnings per share of 42 cents in fourth-quarter fiscal 2018 (ended Jul 31, 2018), missing the Zacks Consensus Estimate of 47 cents. The bottom line improved 20% from 35 cents recorded in the year-ago quarter.
Net income was $109.7 million, reflecting a surge of 56% or $39.4 million from fourth-quarter fiscal 2017.
Copart’s revenues rose 18.7% to $449.2 million from the year-ago quarter and surpassed the Zacks Consensus Estimate of $446.4 million. Service revenues went up 16% year over year to $391.7 million while revenues from vehicle sales gained 38% to $56.6 million in comparison with the prior-year quarter.
Gross profit improved 13% to $188.4 million from $167.5 million a year ago. Total operating expenses increased to $314.4 million from $267.8 million recorded in the prior-year period.
Operating income increased to $134.8 million from $110.8 million a year ago.
For fiscal 2018, Copart has reported adjusted earnings per share of $1.73, up from the prior-year figure of $1.29. In fiscal 2018, revenues were $1.8 billion, up from the 2017 figure of $1.5 billion.
Copart, Inc. Price, Consensus and EPS Surprise
Copart, Inc. Price, Consensus and EPS Surprise | Copart, Inc. Quote
Copart had cash and cash equivalents of $274.5 million as of Jul 31, 2018, compared with $210 million as of Jul 31, 2017. Long-term debt, revolving loan facility and capital lease obligations were $398.7 million as of Jul 31, 2018, which recorded a decline from $550.8 million as of Jul 31, 2017.
In fiscal 2018, Copart generated net cash flow of $535.1 million from operations compared with $ 492.1 million in fiscal 2017.
Zacks Rank & Other Stocks to Consider
Copart currently carries a Zacks Rank #2 (Buy). A few other top-ranked stocks in the auto space are Fox Factory Holding Corporation FOXF, Allison Transmission Holdings, Inc. ALSN and Oshkosh Corporation OSK. While each of Fox Factory and Allison Transmission sports a Zacks Rank #1 (Strong Buy), Oshkosh carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fox Factory has an expected long-term growth rate of 16.8%. Over a year, shares of the company have soared 72.2%.
Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have surged 48.8%.
Oshkosh has an expected long-term growth rate of 18.3%. Over the past three months, shares of the company have risen 9.6%.
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