Copart: Revenue Surges 14%
Copart delivered strong Q2 performance, exceeding expectations with significant revenue and earnings growth, supported by global expansion and technological innovation.
Copart (NASDAQ:CPRT), a leader in online vehicle auctions, announced its fiscal second-quarter 2025 results on Feb. 20, 2025. The company's revenue was $1.16 billion, up 14.0% from the prior year, surpassing the expected $1.13 billion. Copart's net income reached $387.4 million, up 19.0% compared to Q2 2024. Earnings per share stood at $0.40, exceeding the $0.37 expectation by 8.1%. Overall, Copart's performance was driven by global market engagement and technological advancements.
Source: Analyst estimates for the quarter provided by FactSet.
Copart operates in the vehicle remarketing industry, providing online vehicle auctions primarily through its VB3 auction platform. This technology facilitates global auctions, connecting buyers and sellers efficiently. The company's strength lies in relationships with insurance companies, which supply nearly 80% of its vehicles.
