Copart, Inc. (NASDAQ: CPRT), a leading online vehicle auction company, reported higher earnings and revenues for the fourth quarter of 2023.
- Total service revenues and vehicle sales increased 13% to $997.6 million in the final three months of fiscal 2023
- Services revenue grew 18% year-over-year in the fourth quarter, while vehicle sales declined 7%
- Net income, on a reported basis, rose to $347.8 million or $0.36 per share from $263.7 million or $0.27 per share last year
- On an unadjusted basis, the company posted earnings of $0.34 per share for the July quarter, up from $0.28 per share it generated a year earlier
- At $457.6 million, the fourth-quarter gross profit was higher by 20% from the corresponding period of 2022
