Karooooo Ltd. Ordinary Shares - KARO STOCK NEWS

Karooooo Limited (NASDAQ: KARO), which owns Cartrack Holdings, is set to announce its Fourth Quarter and Full Year 2023 Financial Results on May 8, 2023, post market close at 04:00 p.m. Eastern Time.

A Zoom webinar for investors and analysts will be hosted the following day, May 9, 2023, at 08:00 a.m. Eastern Time, offering an opportunity for participation via a designated link.

The conference call can be accessed via telephone in the US and South Africa. A replay of the session will be available on the company’s website approximately three hours after the live event concludes.

Karooooo, the parent company of Cartrack, reported strong results for Q3 2023, ending November 30, 2022. Total revenue surged by 29% to ZAR930 million, up from ZAR720 million in Q3 2022. Despite a focus on future growth investments, earnings per share remained stable at ZAR4.70. The company boasts a robust SaaS model, generating record free cash flow with net cash increasing to ZAR819 million. Over 100,000 active customers are using its Operations Cloud, driving strong subscriber growth, with Cartrack adding over 78,000 new subscribers. A cash dividend of USD18.6 million was also paid out during the quarter.

Karooooo, parent company of Cartrack, reported a strong Q2 2023 with revenue up 30% to ZAR859 million, compared to ZAR659 million in Q2 2022. Adjusted EBITDA increased 27% to ZAR377 million, and earnings per share rose 28% to ZAR4.93. The company achieved a record high in net cash, exceeding ZAR1 billion, reflecting robust cash flow generation. Net subscriber additions rose 36% year-over-year, particularly strong in Southeast Asia, despite challenges in South Africa. Karooooo's strong balance sheet positions it well for future growth, driven by increasing demand for software solutions.

Karooooo reported strong Q1 2023 results, with revenue climbing 28% to ZAR801 million, up from ZAR626 million in Q1 2022. Profit increased by 44% to ZAR156 million, and earnings per share rose 42% to ZAR4.96. The company generated robust free cash flow, ending the quarter with ZAR854 million in cash, supporting a declared interim dividend of 60 U.S. cents. Notably, Coca-Cola selected Cartrack as a technology partner in the Philippines. Karooooo remains well-positioned for future growth despite global economic challenges.

Karooooo Limited (NASDAQ: KARO) has filed its annual report on Form 20-F for the fiscal year ending February 28, 2022, with the SEC on June 9, 2022. The report includes audited financial statements and can be accessed via its investor relations website. Karooooo provides an IoT SaaS cloud platform for over 1.5 million connected vehicles, serving more than 88,000 commercial customers. Its services optimize operations, enhance safety, reduce costs, and ensure compliance with regulations.

Karooooo Limited (KARO) reported a 20% revenue increase for the year ending February 28, 2022, with a 17% growth in subscriber base. The company attributes its success to a resilient operating strategy and strong customer acquisition, achieving over 88,000 commercial customers. Net cash surged to ZAR718 million from ZAR76 million in the previous year. A dividend of 60 U.S. cents per share was declared, reflecting its profitable business model. The company continues to focus on innovation and strategic partnerships to drive future growth.