Copart(CPRT) - 2024 Q4 - Annual Results

Revenue and Income - Revenue for Q4 2024 increased by $71.4 million (7.2%) to$ 1.1 billion compared to the same period last year[1] - Revenue for the year ended July 31, 2024 increased by $367.3 million (9.5%) to$ 4.2 billion compared to the same period last year[2] - Net income for Q4 2024 decreased by $25.2 million (7.3%) to$ 323 million compared to the same period last year[1] - Net income for the year ended July 31, 2024 increased by $125.3 million (10.1%) to$ 1.4 billion compared to the same period last year[2] - Net income increased to $1,362,347 in 2024 from$ 1,237,741 in 2023, representing a growth of approximately 10.1%[10] Earnings Per Share - Fully diluted earnings per share for Q4 2024 decreased by 8.3% to $0.33 compared to$ 0.36 last year[1] - Fully diluted earnings per share for the year ended July 31, 2024 increased by 9.4% to $1.40 compared to$ 1.28 last year[2] Service and Vehicle Sales - Service revenues for Q4 2024 increased by 7.1% to $893.1 million compared to the same period last year[7] - Vehicle sales for Q4 2024 increased by 7.7% to$ 175.9 million compared to the same period last year[7] Operating Expenses - Total operating expenses for Q4 2024 increased by 16.9% to $709.5 million compared to the same period last year[7] Cash and Cash Equivalents - Cash, cash equivalents, and restricted cash increased to$ 1.5 billion as of July 31, 2024, compared to $957.4 million as of July 31, 2023[8] - Cash, cash equivalents, and restricted cash at the end of the period stood at$ 1,514,111 in 2024, up from $957,395 in 2023, an increase of 58.2%[10] Cash Flow - Net cash provided by operating activities rose to$ 1,472,564 in 2024 compared to $1,364,210 in 2023, an increase of about 7.9%[10] - Net cash used in investing activities decreased to$ 940,079 in 2024 from $1,892,049 in 2023, a reduction of 50.3%[10] Depreciation and Amortization - Depreciation and amortization expenses increased to$ 190,256 in 2024 from $159,684 in 2023, up by 19.1%[10] Property and Equipment - Purchases of property and equipment decreased slightly to$ 510,990 in 2024 from $516,636 in 2023, a reduction of 1.1%[10] Investments - Investment in held-to-maturity securities surged to$ 4,087,162 in 2024 from $1,406,588 in 2023, a significant increase of 190.6%[10] - Proceeds from the sale of held-to-maturity securities amounted to$ 3,645,000 in 2024, with no comparable figure in 2023[10] Taxes and Compensation - Income taxes paid, net of refunds, increased to $285,891 in 2024 from$ 257,514 in 2023, up by 11.0%[10] - Stock-based compensation decreased to $35,234 in 2024 from$ 39,673 in 2023, a reduction of 11.2%[10]