Copart, Inc. reported financial results for the third quarter ended April 30, 2025, with total revenue reaching $1.2 billion, an increase of 7.5% compared to the same period last year. However, the company's revenue and net income fell below Wall Street estimates.
Gross profit for the quarter increased by 5.1% to $552.3 million, and net income attributable to Copart, Inc. rose by 6.4% to $406.6 million. Diluted earnings per share (EPS) for the quarter were $0.42, a 7.7% increase from $0.39 in the prior year, which was in line with analyst consensus estimates.
The miss on revenue and profit estimates was attributed to weaker vehicle sales and higher expenses, which offset growth in the services segment. For the nine months ended April 30, 2025, total revenue was $3.5 billion, up 11.2% year-over-year, and net income attributable to Copart, Inc. was $1.2 billion, an increase of 11.1%.
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