- Copart’s 1Q revenue surpassed estimates, reaching $1.02 billion, a 14% increase year over year.
- The service revenue also exceeded expectations at $859.5 million, marking an 18% increase from the previous year.
- Vehicle sales, however, didn’t hit the estimated target, totalling $160.9 million, a 3.4% decrease year over year.
- The operating income for the first quarter was $395.4 million, a 27% increase year over year, outperforming the estimated $380.3 million.
- There were 7 buys, 3 holds, and 2 sells in the company’s stock during this period.
Copart Inc on Smartkarma
Baptista Research, an independent investment research network, recently published a research report on Copart Inc., a well-known online auctions and vehicle remarketing services provider. According to the report, the company has demonstrated its ability to drive solid financial results, with global revenue increasing by nearly 13%, including a favorable currency impact. The report also mentioned that Copart is set to weather market changes and maintain global service excellence, thanks to its solid profits and cost efficiency.
The report, titled “Copart Inc.: Initiation of Coverage – Business Strategy”, was issued with a “Bull” sentiment, indicating that the analyst expects the company to perform well in the future. The research report is available on Smartkarma, an independent investment research network, where top independent analysts publish research on companies like Copart Inc.
A look at Copart Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 1 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Copart Inc is a vehicle supplier, primarily to insurance companies, that provides services to process and sell salvage vehicles. According to SmartKarma Smart Scores, the company has a long-term outlook that is looking good. Copart Inc has a score of 4 for both Growth and Resilience, and a score of 5 for Momentum, suggesting that the company is on track to make steady progress in the coming years. Unfortunately, the Value and Dividend scores are a bit lower at 2 and 1 respectively, but the overall outlook is positive.
Copart Inc provides services to process and sell salvage vehicles to licensed dismantlers, rebuilders, and used vehicle dealers. The high scores for Growth, Resilience, and Momentum indicate that the company is well-positioned to continue providing these services into the future, and can be expected to remain a reliable supplier of vehicles to insurance companies.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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