Copart Notches Higher 3Q Profit, Sales on Increased Service Revenue

Dow Jones
2025/05/23
 

By Connor Hart

 

Copart logged higher profit and sales in its fiscal third quarter, as a jump in service revenue more than offset falling vehicle sales.

The platform for online car auctions posted a profit of $406.6 million for the quarter ended April 30, compared with $382.3 million a year earlier.

Quarterly earnings came in at 42 cents a share, in line with the expectations of analysts polled by FactSet.

Revenue rose 7.5%, to $1.21 billion. Analysts modeled sales of $1.23 billion.

Service revenue, which makes up most of the company's top line, rose 9.3%, offsetting vehicle sales, which fell 2.1%.

Shares fell 3.6%, to $58.50, in after-hours trading. Through the regular session's close, the stock is up 14% in the past year.

 

Write to Connor Hart at connor.hart@wsj.com

 

(END) Dow Jones Newswires

May 22, 2025 16:25 ET (20:25 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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