Copart, Inc. Shows Strong Growth in Q1 FY 2025 Earnings

Copart, Inc. (CPRT) reported adjusted earnings per share of 37 cents for the first quarter of fiscal 2025, which ended on October 31, 2024. This result met analysts’ expectations and marked an 8.8% increase compared to the previous year. The online auto auction leader also generated revenues of $1.15 billion, surpassing the Zacks Consensus Estimate of $1.11 billion and increasing by 12.4% year over year.

Stay informed about upcoming quarterly releases: See Zacks Earnings Calendar.

Copart, Inc. Earnings Overview

Copart, Inc. price-consensus-eps-surprise-chart | Copart, Inc. Quote

Quarterly Highlights

In its fiscal first quarter, Copart reported service revenues of $986.3 million, up from $859.5 million the year before. This also exceeded the Zacks Consensus Estimate of $954 million. Service revenues made up 86% of total revenue. Vehicle sales for the quarter totaled $160.5 million, slightly down from $160.9 million a year ago and below the Zacks Consensus Estimate of $175 million.

Expenses for facility operations rose significantly, climbing 21.6% year over year to reach $447.2 million. Conversely, the cost of vehicle sales decreased by 6.6% to $138.2 million. The company reported facility depreciation and amortization at $47.5 million, which is a 21.4% increase from the previous year, while stock-based compensation expenses dropped 17.2% to $1.8 million.

Gross profit rose by 10.4% year over year to $512.1 million. However, general and administrative expenses surged 57.9% to $90.99 million, resulting in total operating expenses increasing by 14.5% to $690 million.

Operating income improved to $740.5 million, up from $625 million in the same quarter last year. Net income also saw an increase, rising 8.6% year over year to reach $361.2 million.

As of October 31, 2024, Copart held cash, cash equivalents, and restricted cash totaling $3.7 billion, a significant rise from $1.5 billion on July 31, 2024.

During this quarter, net cash from operating activities amounted to $482.3 million, and capital expenditures were $236.8 million.

Zacks Rank & Other Noteworthy Stocks

Currently, CPRT holds a Zacks Rank #2 (Buy).

Other high-performing stocks within the auto industry include Dorman Products, Inc. (DORM), Tesla, Inc. (TSLA), and BYD Company Limited (BYDDY), all rated with a Zacks Rank #1 (Strong Buy) currently. You can view the complete list of today’s Zacks #1 Ranked stocks here.

The Zacks Consensus Estimate for DORM’s 2024 sales and earnings signifies projected growth of 3.66% and 51.98%, respectively. Over the last 30 days, EPS estimates for 2024 and 2025 have increased by 75 cents and 88 cents, respectively.

For TSLA, the 2024 sales forecast indicates a 2.97% increase year-over-year, with EPS estimates for 2024 and 2025 rising by 22 cents and 18 cents, respectively during the past month.

Finally, the Zacks Consensus Estimate for BYDDY’s 2024 sales and earnings anticipates a year-over-year growth of 25.07% and 31.51%, respectively, with EPS estimates for both 2024 and 2025 increasing by 35 cents and 39 cents, respectively.

Five Stocks Expected to Double

These stocks were selected by Zacks experts as top candidates to gain +100% or more in 2024. While not all selections may perform well, previous recommendations have seen significant returns, boasting increases of +143.0%, +175.9%, +498.3%, and +673.0%.

Many of these stocks are currently under Wall Street’s radar, presenting a unique opportunity for potential investors.

For more insights, check out these five potential high-growth stocks >>

Do you want the latest insights from Zacks Investment Research? You can download the report on 5 Stocks Set to Double for free today.

Tesla, Inc. (TSLA): Free Stock Analysis Report

Copart, Inc. (CPRT): Free Stock Analysis Report

Dorman Products, Inc. (DORM): Free Stock Analysis Report

BYD Company Limited (BYDDY): Free Stock Analysis Report

To read this article on Zacks.com, click here.

Zacks Investment Research

The views and opinions expressed herein reflect those of the author and do not necessarily represent those of Nasdaq, Inc.