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Copart meets 2Q profit forecasts

DALLAS (AP) _ Copart Inc. (CPRT) on Tuesday reported fiscal second-quarter net income of $66.1 million.

On a per-share basis, the Dallas-based company said it had profit of 56 cents. Earnings, adjusted for non-recurring costs, came to 58 cents per share.

The results met Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 58 cents per share.

The auctioneer of damaged and recovered stolen vehicles posted revenue of $349.5 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $339.3 million.

Copart shares have climbed almost 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $60.30, a rise of 69 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPRT at https://www.zacks.com/ap/CPRT


Keywords: Copart, Earnings Report