Copart, Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Copart, Inc. (CPRT) released a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $350.43 million, or $0.72 per share. This compares with $278.62 million, or $0.58 per share, in last year's third quarter.

Excluding items, Copart, Inc. reported adjusted earnings of $346.06 million or $0.72 per share for the period.

Analysts on average had expected the company to earn $0.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.5% to $1.02 billion from $0.94 billion last year.

Copart, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $350.43 Mln. vs. $278.62 Mln. last year. -EPS (Q3): $0.72 vs. $0.58 last year. -Analyst Estimate: $0.64 -Revenue (Q3): $1.02 Bln vs. $0.94 Bln last year.