Copart, Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Copart, Inc. (CPRT) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $278.62 million, or $1.16 per share. This compares with $286.80 million, or $1.19 per share, in last year's third quarter.

Excluding items, Copart, Inc. reported adjusted earnings of $281.47 million or $1.17 per share for the period.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.1% to $939.94 million from $733.91 million last year.

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

-Earnings (Q3): $278.62 Mln. vs. $286.80 Mln. last year. -EPS (Q3): $1.16 vs. $1.19 last year. -Analyst Estimates: $1.14 -Revenue (Q3): $939.94 Mln vs. $733.91 Mln last year.