Subtext

Copart, Inc. CPRT

SectorIndustrials
Transcripts30
Date range2017-11-22 – 2025-02-20
Calls charted30

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-14-7+0+7+142018 Q12019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12018 Q1 · Overall: -1.02018 Q2 · Overall: +0.72018 Q3 · Overall: +2.52018 Q4 · Overall: +1.12019 Q1 · Overall: -0.12019 Q2 · Overall: -2.12019 Q3 · Overall: +3.52019 Q4 · Overall: +0.62020 Q1 · Overall: +4.22020 Q2 · Overall: -2.12020 Q3 · Overall: -12.02020 Q4 · Overall: -1.12021 Q1 · Overall: +2.32021 Q2 · Overall: +1.32021 Q3 · Overall: -0.12021 Q4 · Overall: -4.72022 Q1 · Overall: -3.72022 Q2 · Overall: -0.92022 Q3 · Overall: -1.12022 Q4 · Overall: -5.02023 Q1 · Overall: -5.92023 Q2 · Overall: -2.32023 Q3 · Overall: -1.02023 Q4 · Overall: +2.82024 Q1 · Overall: +4.62024 Q2 · Overall: +1.92024 Q3 · Overall: -0.42024 Q4 · Overall: -6.12025 Q1 · Overall: -8.42025 Q2 · Overall: -5.5
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-21-11+0+11+212018 Q12019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12018 Q1 · CEO: +7.22018 Q2 · CEO: +9.22018 Q4 · CEO: +6.12019 Q1 · CEO: +1.72019 Q2 · CEO: -4.92019 Q3 · CEO: +17.22019 Q4 · CEO: +7.52020 Q2 · CEO: +14.12020 Q3 · CEO: -7.42020 Q4 · CEO: +2.02022 Q1 · CEO: -3.82022 Q3 · CEO: -5.52022 Q4 · CEO: -4.02023 Q1 · CEO: -0.82023 Q2 · CEO: -0.42023 Q3 · CEO: +1.72023 Q4 · CEO: +5.32024 Q1 · CEO: +4.32024 Q2 · CEO: +3.72024 Q3 · CEO: -0.32024 Q4 · CEO: -5.42025 Q1 · CEO: -10.32025 Q2 · CEO: -11.32018 Q1 · CFO: -4.32018 Q2 · CFO: -4.62018 Q3 · CFO: +1.02018 Q4 · CFO: +2.62019 Q1 · CFO: -0.32019 Q2 · CFO: +0.02019 Q3 · CFO: -0.92021 Q1 · CFO: +11.72021 Q2 · CFO: +9.72021 Q3 · CFO: +18.32021 Q4 · CFO: +15.32022 Q1 · CFO: +6.82022 Q2 · CFO: +2.12022 Q3 · CFO: +7.62023 Q2 · CFO: +7.42024 Q2 · CFO: +6.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-14-7+0+7+142018 Q12019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12018 Q1 · Prepared remarks: -0.82018 Q2 · Prepared remarks: +4.02018 Q3 · Prepared remarks: -2.72018 Q4 · Prepared remarks: +3.82019 Q1 · Prepared remarks: +3.52019 Q2 · Prepared remarks: +2.02019 Q3 · Prepared remarks: +0.02019 Q4 · Prepared remarks: +7.02020 Q1 · Prepared remarks: +7.92020 Q2 · Prepared remarks: +11.82020 Q3 · Prepared remarks: -10.02020 Q4 · Prepared remarks: -6.32021 Q1 · Prepared remarks: +7.22021 Q2 · Prepared remarks: +5.82021 Q3 · Prepared remarks: +2.62021 Q4 · Prepared remarks: +0.42022 Q1 · Prepared remarks: +1.32022 Q2 · Prepared remarks: +1.02022 Q3 · Prepared remarks: -2.82022 Q4 · Prepared remarks: -0.32023 Q1 · Prepared remarks: -2.62023 Q2 · Prepared remarks: +8.62023 Q3 · Prepared remarks: +5.02023 Q4 · Prepared remarks: -0.42024 Q1 · Prepared remarks: +2.82024 Q2 · Prepared remarks: +5.72024 Q3 · Prepared remarks: +1.62024 Q4 · Prepared remarks: +3.82025 Q1 · Prepared remarks: -8.92025 Q2 · Prepared remarks: -5.32018 Q1 · Q&A responses: -1.02018 Q2 · Q&A responses: -0.42018 Q3 · Q&A responses: +5.12018 Q4 · Q&A responses: +3.82019 Q1 · Q&A responses: -3.12019 Q2 · Q&A responses: -2.82019 Q3 · Q&A responses: +6.92019 Q4 · Q&A responses: -4.22020 Q1 · Q&A responses: +0.92020 Q2 · Q&A responses: -7.42020 Q3 · Q&A responses: -12.62020 Q4 · Q&A responses: +1.62021 Q1 · Q&A responses: +0.82021 Q2 · Q&A responses: +2.42021 Q3 · Q&A responses: +1.02021 Q4 · Q&A responses: -7.42022 Q1 · Q&A responses: -4.72022 Q2 · Q&A responses: +0.02022 Q3 · Q&A responses: +0.72022 Q4 · Q&A responses: -5.82023 Q1 · Q&A responses: -6.02023 Q2 · Q&A responses: -4.32023 Q3 · Q&A responses: -0.52023 Q4 · Q&A responses: +8.92024 Q1 · Q&A responses: +5.42024 Q2 · Q&A responses: +3.52024 Q3 · Q&A responses: +1.12024 Q4 · Q&A responses: -12.22025 Q1 · Q&A responses: -4.82025 Q2 · Q&A responses: -9.4
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.40$1.07$1.742018 Q12019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12018 Q1: $0.492018 Q2: $0.532018 Q3: $0.542018 Q4: $0.562019 Q1: $0.592019 Q2: $0.622019 Q3: $0.672019 Q4: $0.732020 Q1: $0.752020 Q2: $0.642020 Q3: $0.732020 Q4: $0.822021 Q1: $0.872021 Q2: $0.972021 Q3: $1.042021 Q4: $1.112022 Q1: $1.152022 Q2: $1.182022 Q3: $1.192022 Q4: $1.192023 Q1: $1.272023 Q2: $1.382023 Q3: $1.422023 Q4: $1.532024 Q1: $1.552024 Q2: $1.612024 Q3: $1.562024 Q4: $1.64

Forward P/E

19.7529.0038.262018 Q12019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q12018 Q1: 25.702018 Q2: 27.102018 Q3: 25.662018 Q4: 21.032019 Q1: 25.432019 Q2: 29.712019 Q3: 30.652019 Q4: 30.652020 Q1: 22.402020 Q2: 33.952020 Q3: 35.802020 Q4: 36.982021 Q1: 31.882021 Q2: 32.282021 Q3: 35.692021 Q4: 33.652022 Q1: 27.232022 Q2: 22.472022 Q3: 23.332022 Q4: 26.162023 Q1: 26.802023 Q2: 31.322023 Q3: 31.242023 Q4: 32.492024 Q1: 36.212024 Q2: 33.972024 Q3: 32.592024 Q4: 35.88

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2019 Q2 tone ↓ -2.0 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -2.9 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q3 tone ↓ -10.0 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↓ -4.6 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -2.7 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -5.7 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q22025-02-20-5.5——View →
2025 Q12024-11-21-8.4——View →
2024 Q42024-09-04-6.1$1.6435.9View →
2024 Q32024-05-16-0.4$1.5632.6View →
2024 Q22024-02-22+1.9$1.6134.0View →
2024 Q12023-11-16+4.6$1.5536.2View →
2023 Q42023-09-14+2.8$1.5332.5View →
2023 Q32023-05-17-1.0$1.4231.2View →