Copart Inc.
Copart Reports Strong Financial Results for Q2 FY 2024
Summary
On February 22, 2024, Copart, Inc. reported a robust increase in its financial results for the second quarter of fiscal year 2024. The company's revenue increased by 6.6% to $1.02 billion, with a gross profit of $464.2 million, reflecting an 8.8% increase from the previous year. Net income attributable to Copart, Inc. rose by 10.9% to $325.6 million, and diluted earnings per share improved by 10.0% to $0.33. For the first half of the fiscal year, Copart's revenue grew by 10.3% to $2.04 billion, gross profit increased by 16.6% to $928.2 million, and net income attributable to Copart, Inc. surged by 22.0% to $658.2 million.
Profitelligence Alerts
Get alerts for CPRT
Be first to know when Copart Inc. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Copart Inc.
Copart Inc. is a global leader in online vehicle auctions, providing a platform for buyers and sellers to auction and purchase vehicles of various types. The company's primary function is to facilitate the remarketing of vehicles including cars, trucks, SUVs, motorcycles, RVs, and more, often sourced from insurance companies, dealerships, and fleet operators. Copart's innovative model leverages technology to enhance the auction process, providing a fully digital marketplace accessible to a diverse range of participants worldwide. Notable features of Copart include its extensive inventory, real-time auction capabilities, and the availability of a mobile application that allows users to participate in auctions from anywhere. The company plays a significant role in the automotive and insurance industries, aiding in the efficient turnover of vehicles that are beyond repair, have been involved in accidents, or are simply surplus to requirements. With its extensive global footprint and integration of sophisticated data technology, Copart Inc. significantly impacts the vehicle remarketing and recycling sectors, providing a valuable service that helps streamline and modernize the auto auction industry.
Official SEC Documents
Advertisement