Copart, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Copart, Inc. (CPRT) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $287.41 million, or $1.19 per share. This compares with $193.44 million, or $0.81 per share, in last year's second quarter.

Excluding items, Copart, Inc. reported adjusted earnings of $265.96 million or $1.10 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 40.6% to $867.46 million from $617.03 million last year.

Copart, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $287.41 Mln. vs. $193.44 Mln. last year. -EPS (Q2): $1.19 vs. $0.81 last year. -Analyst Estimate: $1.07 -Revenue (Q2): $867.46 Mln vs. $617.03 Mln last year.