Copart Q4 revenue climbs on international unit growth, vehicle sales surge
CPRT•No guidance and analyst view remains positive
Copart did not provide specific guidance or outlook for the current or upcoming periods.
The current average analyst rating on the shares is buy, with 9 strong buy or buy, 5 hold, and 1 sell or strong sell recommendation.
Wall Street's median 12-month price target for Copart Inc is $42.55, about 32.8% above its September 9 closing price of $32.03.
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago.
Earnings and margins weaken on higher operating expenses
EPS for fiscal Q4 declined and missed analyst expectations.
Net income and gross profit both fell year over year, hurt by higher operating expenses.
Gross profit fell 5.5% as facility operations costs rose 7.7%, vehicle-sale costs increased 11.4%, and facility depreciation rose 14.0%.
Net income declined 17.4% as other income fell 45.6%, reflecting a 20.5% drop in net interest income and a swing in other income.
