Copart Takes Hurricane Harvey Hit, EnviroStar Completes Acquisitions

Mukesh Buch
19 Sep, 2018
New York City

A-Mark Precious Metals revenues soared. Copart missed earnings estimates. EnviroStar said it completed acquisitions of Industrial Laundry Services and Scott Equipment.

[R]1:15 PM New York City, New York – A-Mark Precious Metals revenues soared. Copart missed earnings estimates. EnviroStar said it completed acquisitions of Industrial Laundry Services and Scott Equipment.[/R]

Tollbooth Index jumped 123.76 or 0.8% to 16,552.65 but for the year-to-date soared 20.3%.

Earnings Review

A-Mark Precious Metals Inc ((AMRK)) dropped 2.4% or 33 cents to $13.30 after the precious metals trader said revenues in the fourth-quarter ending in June jumped 33% from a year ago to $1.8 billion.

Net in the quarter swung to a loss of $3 million or 43 cents per diluted share from profit of $1.2 million or 17 cents in the same quarter last year.

The trader said gold ounces sold in the quarter surged 98% to 586,000 ounces and silver ounces sold declined 39% to 8.6 million ounces.

Copart Inc ((CPRT)) tumbled 14.5% or $9.29 to $54.88 after the online vehicle auction services provider reported total revenues in the fourth-quarter ending in July soared 18.7% from a year ago to $449.2 million.

Net income in the quarter surged 56% to $109.7 million or 45 cents per diluted share from $70.3 million or 30 cents in the same quarter last year.

Copart said operating results in the year were adversely affected by abnormal costs of $79.7 million linked to Hurricane Harvey.

EnviroStar Inc ((EVI)) slumped 2.9% or $1.25 to $41 after the commercial laundry and dry-cleaning equipment and industrial boilers maker said revenues in the year ending in June surged 60% from a year ago to $150 million.

Net income in the quarter jumped 25% to $4 million or 33 cents per diluted share from $3.2 million or 31 cents in the same quarter last year.

Separately, the laundry and dry-cleaning equipment maker said it had completed the acquisitions of Industrial Laundry Services, Inc on September 4 and Scott Equipment, Inc on September 12.

Herman Miller Inc ((MLHR)) rose 25 cents to $37.30 and the office equipment and home furniture provider is scheduled to release its first-quarter results.

Red Hat Inc ((RHT)) slipped $1.28 to $141.43 ahead of the open-source software provider’s schedule to release its first-quarter results.