Copart Q1 2023 Earnings Report
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.
Copart
Copart
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.