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Oct 31, 2022
Copart Q1 2023 Earnings Report
Copart's financial results for Q1 2023 were released, showing increased revenue but decreased gross profit and net income compared to the same period last year.
Key Takeaways
Copart's first quarter fiscal 2023 results revealed a 10.3% increase in revenue, but a 4.0% decrease in gross profit and a 5.6% decrease in net income compared to the same period last year. The operating results were negatively impacted by Hurricane Ian, resulting in approximately $25 million in additional costs.
Revenue increased by 10.3% compared to the same period last year.
Gross profit decreased by 4.0% compared to the same period last year.
Net income decreased by 5.6% compared to the same period last year.
Hurricane Ian adversely impacted operating results, resulting in $25 million in additional costs.
Forward Guidance
This press release contains forward-looking statements within the meaning of federal securities laws, including statements concerning the potential impact of the COVID-19 pandemic on our business, operations, and operating results. These forward-looking statements are subject to substantial risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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