Copart Q2 Results Top Estimates

(RTTNews) - Copart Inc. (CPRT) reported that its net income for the second quarter ended January 31, 2023 rose to $293.68 million or $0.61 per share from $287.41 million or $0.60 per share in the prior year.

Excluding the impact of certain discrete income tax items and certain income tax benefits related to stock-based compensation, non-GAAP earnings per share for the quarter were $0.61, up from $0.55 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share for the quarter. Analysts' estimates typically exclude special items.

Total service revenues and vehicle sales for the quarter were $956.72 million up from $867.46 million in the previous year. Analysts expected revenue of $930.38 million for the quarter.

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