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Copart, Inc. (CPRT) Q3 2023 Earnings Call Transcript

May 17, 2023 9:00 PM ETCopart, Inc. (CPRT)1 Comment
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Copart, Inc. (NASDAQ:CPRT) Q3 2023 Earnings Conference Call May 17, 2023 5:00 PM ET

Company Participants

Jeff Liaw - Co-Chief Executive Officer

Leah Stearns - Chief Financial Officer

Conference Call Participants

Bob Labick - CJS Securities

Dan Imbro - Stephens, Inc.

Craig Kennison - Baird

Chris Bottiglieri - BNP Paribas

Bret Jordan - Jefferies

John Healy - Northcoast Research

Gary Prestopino - Barrington Research


Greetings and welcome to the Copart Incorporated Third Quarter Fiscal 2023 Earnings Call. Just a reminder, today's conference is being recorded. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

Before turning call over to management, I will share Copart’s statement on Safe Harbor and non-GAAP financial measures. During today's call, the company will discuss certain non-GAAP measures, including adjustments to income tax benefits related to stock-based compensation. The company has provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures on its Investor Relations website and in its press release issued at approximately 3:00 p.m. central time today. The company believes these non-GAAP measures together with corresponding GAAP measures are relevant in analyzing the company's results and assessing its business trends and performance.

In addition, the company's comments today include forward-looking statements within the meaning of the federal securities laws, including management's current views, with respect to trends, opportunities and uncertainties in the company's markets. These forward-looking statements involve substantial risks and uncertainties. For more details on the risks associated with the company's business, we refer you to the section titled Risk Factors in the company's annual report on Form 10-K for the year ended July 31, 2022, and each of the company's subsequent quarterly reports on Form 10-Q. Any forward-looking statements are made as of today and the company has no obligation to update or revise

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Comments (1)

I like this: "..we do not prioritize interest payments, debt paydown, dividends or massive cost reduction initiatives." -- that is smart, gutsy and focused.
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