Copart’s profit rises 32% to beat quarterly estimates
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Copart (NASDAQ:CPRT) beat top- and bottom-line estimates for its fiscal Q4. 
The online vehicle auction company said revenue rose 13% from a year earlier to $997.6 million, beating the consensus estimate of $962.8 million.

Net income rose 32% from a year earlier to $347.8 million, or $0.36 a share, from $263.7 million, or $0.27 a share, a year earlier. Adjusted EPS of $0.34 beat the consensus estimate of $0.32.
âNew and used-vehicle prices are likely to stabilize or decrease more swiftly than repair cost will,â Jeff Liaw, co-CEO of Copart (CPRT), said in a conference call with analysts. âWe believe this, in turn, should lead to a recovery in total loss frequency eventually surpassing pre-COVID levels as well.â
Copart's (CPRT) stock has gained 62% in the past 12 months, compared with a 14% gain for the Standard & Poor's 500 stock index (SP500).

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