Copart, Inc. (NASDAQ: CPRT) has extended its $10.50-per-share cash tender offer for ACV Auctions Inc. (NYSE: ACVA) a second time, moving the expiration to 5 p.m. EDT Oct. 15 to allow the federal antitrust waiting period on the deal to run out. The extension, announced Oct. 8, comes as tendered shares have climbed past the […]
Copart Launches Tender Offer for ACV Auctions Shares, Sets Sept. 30 Expiration
Copart, Inc. (NASDAQ: CPRT) has launched its tender offer for all outstanding shares of ACV Auctions Inc. (NYSE: ACVA) at $10.50 per share in cash, moving forward with the approximately $1.9 billion acquisition the companies announced Sept. 10. The offer, commenced Sept. 17 through Apple Merger Sub, Inc., a wholly owned Copart subsidiary, is scheduled […]
Copart to Acquire ACV Auctions for $1.9 Billion, Expanding Into Dealer Wholesale
Copart, Inc. (NASDAQ: CPRT) has agreed to acquire ACV Auctions Inc. (NYSE: ACVA) for $10.50 per share in cash, valuing the digital wholesale vehicle marketplace at approximately $1.9 billion and extending the salvage auction operator into the dealer-to-dealer channel for the first time. The $10.50 per-share price represents a premium of approximately 45% to ACV […]
Copart Promotes Jane Pocock to President
The company said Pocock, who has led its U.K. and Ireland business since 2019, will take the role Aug. 1 as Jay Adair returns as chief executive. Copart Inc. has promoted Jane Pocock to president, effective Aug. 1, elevating the executive who has run its U.K. and Ireland operations to a role overseeing the salvage-auction […]
Copart CEO Jeff Liaw to Step Down, Jay Adair to Return as Chief Executive
Copart Inc. (NASDAQ: CPRT) said Chief Executive Officer Jeff Liaw will step down as CEO and director effective July 31, and that the board has appointed Executive Chairman Jay Adair to resume the top role he held for more than a decade before Liaw. Liaw will support the transition as special advisor to Adair. Liaw […]
Copart Reports Modest Revenue Growth as Profit Margins Expand in Q1
Copart Inc. (NASDAQ: CPRT) reported first-quarter fiscal 2026 revenue of $1.16 billion, a 0.7 percent increase over the same period last year, as the vehicle auction and salvage marketplace operator saw stronger profit growth amid relatively flat sales. The Dallas-based company’s gross profit rose 4.9 percent to $537.0 million for the three months ended Oct. […]
Copart Reports 22.9% Jump in Net Income on Higher Revenue
Copart Inc. (NASDAQ: CPRT) reported a 22.9% increase in net income during its fiscal fourth-quarter ended July 31as the auto salvage auction company benefited from higher revenue, as total loss frequency has increased, and improved margins. The company said net income attributable to Copart rose to $396 million, or 41 cents per share, for the […]
Copart Reports Second Quarter Fiscal Revenue of $1.16 Billion
Copart, Inc. (NASDAQ: CPRT) reported financial results for its fiscal second quarter ended January 31, 2025. For the three months ended January 31, revenue, gross profit, and net income attributable to Copart, Inc. were $1.16 billion, $525.6 million, and $387.4 million, respectively. These represent an increase in revenue of $143.2 million, or 14.0%; an increase […]
Copart Reports Fiscal First Quarter Revenue of $1.15 Billion
Copart, Inc. (NASDAQ: CPRT) reported for its fiscal first quarter ended October 31 revenue was $1.15 billion, gross profit was $512.1 million, and net income attributable to Copart, Inc. was $362.1 million. These represent an increase in revenue of $126.4 million, or 12.4%; an increase in gross profit of $48.1 million, or 10.4%; and an […]
Copart Reports Fiscal 2024 Full Year Revenue Up 9.5% to $4.2 Billion
Copart, Inc. (NASDAQ: CPRT) reported financial results for the quarter ended July 31, revenue, gross profit, and net income attributable to Copart, Inc. were $1.1 billion, $454 million, and $323 million, respectively. These represent an increase in revenue of $71.4 million, or 7.2%; a decrease in gross profit of $(4.0) million, or (0.9)%; and a […]
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