Last $36.74 USD
Change Today +0.01 / 0.03%
Volume 1.1M
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

copart inc (CPRT) Key Developments

Copart, Inc. Enters into Credit Agreement

On December 3, 2014, Copart, Inc. entered into a credit agreement with respect to a secured revolving loan facility in an aggregate principal amount of up to $300.0 million, none of which was drawn at closing, and a secured term loan facility in an aggregate principal amount of $300.0 million, all of which was drawn at closing. In addition, the company issued an aggregate of $400.0 million of senior secured notes in four separate $100.0 million tranches bearing interest rates ranging from 4.07% to 4.35% and having maturity dates ranging from December 2024 through December 2029. The principal purposes of these financing transactions were to refinance existing bank indebtedness that is due within one; to increase the size and availability under the company’s revolving facility; and to provide additional long-term financing at fixed interest rates. The company repaid the full balance of existing indebtedness under the credit facility dated as of December 14, 2010. Any excess proceeds will be used for general corporate purposes, including working capital and capital expenditures as well as potential share repurchases, acquisitions, or other investments relating to company’s growth strategies in domestic and international markets.

Copart Mulls Acquisitions

Copart, Inc. (NasdaqGS:CPRT) entered into notes purchase agreement for a private placement of four senior secured notes for gross proceeds of $400 million on December 3, 2014. Copart repaid the full balance of existing indebtedness under the credit facility dated as of December 14, 2010. Any excess proceeds will be used for general corporate purposes, including working capital and capital expenditures as well as potential share repurchases, acquisitions, or other investments relating to Copart's growth strategies in domestic and international markets.

Copart, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended October 31, 2014

Copart, Inc. announced unaudited consolidated earnings results for the first quarter ended October 31, 2014. For the quarter, the company reported net income of $52.6 million, or $0.40 per diluted share, an increase from last year's net income of $41.4 million, or $0.32 per diluted share. Total service revenues and vehicle sales came in at $290.4 million, ahead of last year's $279.9 million. The increase resulted from growth in international operations, which included Germany, Spain, the United Arab Emirates and Brazil of approximately $1.7 million. Operating income was $82.401 million compared to $64.959 million a year ago. Income before income taxes was $82.223 million compared to $64.245 million a year ago. Net cash provided by operating activities was of $83.366 million compared to $67.715 million a year ago. Purchases of property and equipment including acquisitions were of $23.388 million compared to $21.595 million a year ago.

Copart, Inc. to Report Q1, 2015 Results on Nov 24, 2014

Copart, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Nov 24, 2014

Copart, Inc., Q1 2015 Earnings Call, Nov 25, 2014

Copart, Inc., Q1 2015 Earnings Call, Nov 25, 2014

 

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CPRT

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Valuation CPRT Industry Range
Price/Earnings 25.4x
Price/Sales 3.9x
Price/Book 4.5x
Price/Cash Flow 24.4x
TEV/Sales 3.5x
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