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Copart(CPRT) - 2025 Q3 - Quarterly Results
CPRTCopart(CPRT)2025-05-22 20:15
Transcript

Revenue and Income - For the three months ended April 30, 2025, revenue was 1.2billion,representinganincreaseof1.2 billion, representing an increase of 84.5 million, or 7.5% year-over-year[4] - Net income attributable to Copart, Inc. for the quarter was 406.6million,reflectingayear−over−yearincreaseof406.6 million, reflecting a year-over-year increase of 24.3 million, or 6.4%[4] - For the nine months ended April 30, 2025, revenue totaled 3.5billion,up3.5 billion, up 354.0 million, or 11.2% from the same period last year[5] - Net income for the nine months ended April 30, 2025, was 1,153,055,anincreaseof10.91,153,055, an increase of 10.9% compared to 1,040,169 in 2024[17] Profitability Metrics - Gross profit for the same period was 552.3million,anincreaseof552.3 million, an increase of 26.8 million, or 5.1% compared to the previous year[4] - The company reported a fully diluted earnings per share of 0.42forthequarter,anincreaseof7.70.42 for the quarter, an increase of 7.7% from 0.39 in the prior year[4] - Operating income for the three months ended April 30, 2025, was 451.5million,a3.3451.5 million, a 3.3% increase from the previous year[13] Assets and Cash Flow - Total current assets as of April 30, 2025, were 5.36 billion, compared to 4.42billionasofJuly31,2024[15]−Totalassetsincreasedto4.42 billion as of July 31, 2024[15] - Total assets increased to 9.67 billion from 8.43billionoverthesameperiod[15]−Cashandcashequivalentsincreasedto8.43 billion over the same period[15] - Cash and cash equivalents increased to 2.37 billion from 1.51billionyear−over−year[15]−Cash,cashequivalents,andrestrictedcashattheendoftheperiodreached1.51 billion year-over-year[15] - Cash, cash equivalents, and restricted cash at the end of the period reached 2,366,499, compared to 1,089,995attheendofthepreviousyear[17]−Netcashprovidedbyoperatingactivitiesincreasedto1,089,995 at the end of the previous year[17] - Net cash provided by operating activities increased to 1,361,274, up 31.7% from 1,033,343inthepreviousyear[17]InvestmentandExpenses−Netcashusedininvestingactivitiesdecreasedto1,033,343 in the previous year[17] Investment and Expenses - Net cash used in investing activities decreased to 559,049, a reduction of 39.1% from 916,494in2024[17]−Purchasesofpropertyandequipmenttotaled916,494 in 2024[17] - Purchases of property and equipment totaled 481,349, an increase from 373,104inthepreviousyear[17]−Incometaxespaid,netofrefunds,roseto373,104 in the previous year[17] - Income taxes paid, net of refunds, rose to 318,989, compared to 266,400in2024,reflectinga19.7266,400 in 2024, reflecting a 19.7% increase[17] Operational Highlights - The company sold more than 4 million units in the last year, with operations in over 250 locations across 11 countries[7] - The effect of foreign currency translation contributed 5,990 to cash flows, compared to 4,862in2024[17]−Thecompanyreportedagainonthesaleofpropertyandequipmentof4,862 in 2024[17] - The company reported a gain on the sale of property and equipment of 4,533, compared to 3,453inthepreviousyear[17]−Theallowanceforcreditlosswassignificantlyreducedto3,453 in the previous year[17] - The allowance for credit loss was significantly reduced to 153 from 2,513inthepreviousyear[17]StockandEquity−Proceedsfromtheexerciseofstockoptionsincreasedto2,513 in the previous year[17] Stock and Equity - Proceeds from the exercise of stock options increased to 40,171, up 97.5% from $20,377 in the previous year[17]