Copart(CPRT) - 2025 Q2 - Quarterly Results

Revenue and Profitability - For the three months ended January 31, 2025, revenue increased by $143.2 million, or 14.0%, to $1.16 billion compared to the same period last year[4] - Gross profit for the quarter was $525.6 million, reflecting an increase of $61.4 million, or 13.2%[4] - Net income attributable to Copart, Inc. for the quarter was $387.4 million, an increase of $61.8 million, or 19.0%[4] - For the six months ended January 31, 2025, revenue reached $2.31 billion, up $269.6 million, or 13.2% year-over-year[5] - Net income for the six months ended January 31, 2025, was $747,717,000, an increase of 13.6% compared to $658,059,000 in the same period of 2024[16] - Fully diluted earnings per share for the quarter was $0.40, a 21.2% increase from $0.33 in the prior year[4] - Operating income for the quarter was $426.2 million, a 12.2% increase from $379.9 million in the same quarter last year[12] Assets and Cash Flow - Total current assets as of January 31, 2025, were $4.97 billion, compared to $4.42 billion as of July 31, 2024[15] - Total assets increased to $9.19 billion from $8.43 billion as of July 31, 2024[15] - Cash, cash equivalents, and restricted cash increased to $3.34 billion from $1.51 billion year-over-year[15] - Net cash provided by operating activities increased to $660,401,000 from $537,039,000, reflecting a growth of 22.9% year-over-year[16] - The company reported a significant increase in cash, cash equivalents, and restricted cash at the end of the period, totaling $3,338,909,000, up from $1,256,948,000[16] - The company experienced a net increase in cash and cash equivalents of $1,824,798,000, compared to $299,553,000 in the prior year[16] Investment and Financing Activities - Cash flows from investing activities showed a net inflow of $1,127,508,000, compared to a net outflow of $247,680,000 in the previous year[16] - Purchases of property and equipment amounted to $353,399,000, an increase from $285,289,000 in the prior year[16] - Proceeds from the sale of held to maturity securities were $1,940,000,000, compared to $1,430,000,000 in the previous year, indicating a 36% increase[16] - Interest paid decreased to $1,371,000 from $2,036,000, showing a reduction of 32.7%[16] - Income taxes paid, net of refunds, increased to $277,051,000 from $188,480,000, reflecting a rise of 47%[16] Operational Highlights - The company sold more than 4 million units in the last year, operating in over 250 locations across 11 countries[7] - The allowance for credit loss decreased to $1,056,000 from $3,702,000, indicating a reduction of 71.5%[16]