Latest news with #Karooooo
Bloomberg
22-05-2025
- Automotive
- Bloomberg
Tracking Down Hijacked Cars Helps Mint a New African Billionaire
Zak Calisto's firm started out helping carjack victims recover their vehicles in South Africa two decades ago. It's since expanded to an international track-and-trace giant with a New York listing — and made him Africa's newest billionaire. The Portugal-born founder of telematics firm Karooooo Ltd, which started out as Cartrack, owns about two-thirds of the company which has since expanded to services including AI-powered driver monitoring and fleet-management. Backed by rising client subscriptions and global expansion, the stock rallied last week, catapulting him into the ranks of South African dollar billionaires.
IOL News
15-05-2025
- Automotive
- IOL News
Karooooo's CEO outlines ambitious plans for expansion and profitability
KAROOOOO CEO and founder Zak Calisto says the group is building momentum for growth after four years of challenging market conditions Image: supplied Karooooo, which owns the vehicle tracking and fleet management solutions company Cartrack, has four difficult years behind it and is looking to the new financial year to build growth momentum, said the founder and CEO Zak Calisto. Interviewed on Thursday at the release of the fourth quarter results to February 28, Calisto, who has expanded the group into Asia, Europe and South Africa, said they scaled up in the last two quarters by nearly 1 000 additional staff, and the company had moved into a new head office in Johannesburg, this after a period where operations were impacted by the Covid pandemic for two years, and by the work-from-home trend. Karooooo's operating profit increased by 30% to R385 million in the fourth quarter and earnings per share increased 19% to R8.11. The number of Cartrack subscribers increased 17% to 2.3 million from 1.97 million. The group is ungeared with some R900m in cash. Calisto said their biggest business remains in South Africa, and he believes the market still has 'huge opportunities for growth.' The group is aiming to double the size of its South African business in the next four years, he added. He said there were similar opportunities in their European and Asia markets, and over time, it was likely that Asia would become the group's biggest market. 'We operate in an expanding and largely underpenetrated market globally, fueled by robust and sustained customer demand. This demand is driven by a heightened focus on digitalization, the need to improve operational efficiency and reduce costs, and increasing attention to safety in physical operations,' he said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ A significant goodwill impairment of R43.9m was realised, whch related to the political uncertainty in Mozambique. Calisto said some of their clients had their entire fleets and properties burned through the political riots. He estimated hundreds of vehicles were burned in total, and there was no certainty at this stage how long the political situation would remain resolved. He said despite the challenges in the fourth quarter, their Mozambique operation continued to support their South African customers who have cross-border operations and has remained profitable with healthy cash generation. 'In the 2026 financial year, we aim to accelerate Cartrack subscription revenue growth by expanding our distribution footprint in existing markets, driving broader platform adoption and capitalising on growing demand for video solutions,' he said. He said while their targets might be hard to meet, they had a strong and proven track record of execution, sustained growth at scale, and a highly profitable business model supported by a solid balance sheet and a healthy cash position. 'As we expand our distribution footprint in existing markets, we expect lower earnings per share growth in the 2026 year, given our planned upfront investment in sales and marketing for the year,' the group said. Cartrack's subscription revenue was forecasted to grow between 16% and 21% compared to the 2025 financial year, while Karooooo's earnings per share was expected to be between R32.50 and R35.50. Karooooo's adjusted earnings per share increased 39% to R9.48. Operating expenses increased 15% to R485m. Of the total, Cartrack accounted for R459m (Q4 2024: R399m) in operating expenses including investments in infrastructure and headcount to support territorial expansion and distribution growth. Visit:
Yahoo
15-05-2025
- Business
- Yahoo
Karooooo Ltd. (KARO) Surpasses Q4 Earnings and Revenue Estimates
Karooooo Ltd. (KARO) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 18.92%. A quarter ago, it was expected that this company would post earnings of $0.38 per share when it actually produced earnings of $0.43, delivering a surprise of 13.16%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Karooooo , which belongs to the Zacks Internet - Software industry, posted revenues of $66 million for the quarter ended February 2025, surpassing the Zacks Consensus Estimate by 4.93%. This compares to year-ago revenues of $57.64 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Karooooo shares have lost about 1.3% since the beginning of the year versus the S&P 500's gain of 0.1%. While Karooooo has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Karooooo: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.38 on $64.77 million in revenues for the coming quarter and $1.72 on $272.15 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. nCino (NCNO), another stock in the same industry, has yet to report results for the quarter ended April 2025. This company is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents a year-over-year change of -15.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. nCino's revenues are expected to be $139.76 million, up 9.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Karooooo Ltd. (KARO) : Free Stock Analysis Report nCino Inc. (NCNO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
05-05-2025
- Business
- Globe and Mail
Is Karooooo Stock Worth the Investment? Here's What the Experts Say.
Explore the exciting world of Karooooo (NASDAQ: KARO) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of March 31, 2025. The video was published on May 5, 2025. Should you invest $1,000 in Karooooo right now? Before you buy stock in Karooooo, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Karooooo wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $623,685!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $701,781!* Now, it's worth noting Stock Advisor 's total average return is906% — a market-crushing outperformance compared to164%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 5, 2025
Yahoo
05-05-2025
- Business
- Yahoo
Karooooo to Announce Fourth Quarter and Full Year 2025 Results on May 14, 2025
SINGAPORE, May 05, 2025--(BUSINESS WIRE)--Karooooo Limited (NASDAQ: KARO) ("Karooooo" or "the Company"), that owns 100% of Cartrack and 74.8% of Karooooo Logistics, announced that the Company will release its Fourth Quarter and Full Year 2025 Financial Results on Wednesday, May 14, 2025 shortly after 04:00 p.m. Eastern Time. Webcast: The Company will host a corresponding Zoom webinar on Thursday, May 15, 2025 at 08:00 a.m. Eastern Time (02:00 p.m. South African time; 08:00 p.m. Singaporean time). Investors are invited to join the Zoom webinar at: Webinar ID: 829 3733 8104 Telephone: US (New York) Toll-free: +1 646 558 8656 South Africa Toll-free: +27 87 551 7702 A replay will be available at approximately three hours after the conclusion of the live event. Upcoming Conference Participation The Company also announced that Group CEO Zak Calisto will participate in the following upcoming conferences. If applicable, events will be webcast live and archived on Karooooo's investor relations website at Bank of America Emerging Markets Corporate Conference, May 28 and 29, 2025 William Blair 45th Annual Growth Stock Conference, June 3 and 4, 2025 About Karooooo Karooooo digitally transforms physical operations by simplifying decision making. Through its cloud platform, Karooooo empowers businesses to conquer operations including fleet maintenance, fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact. Karooooo's differentiated insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency, improve safety and strengthen workforce and customer satisfaction. Karooooo is headquartered in Singapore and services more than 125,000 commercial customers and more than 2,350,000 active subscribers in more than 20 countries globally. For more information, visit View source version on Contacts Investor Relations Contact: IR@ Sign in to access your portfolio
