Summary
Copart Inc. (CPRT) filed its 10-Q for the quarterly period ended October 31, 2012, providing an update on its share repurchase program. During the three months ended October 31, 2012, the company repurchased 500,000 shares of its common stock at an average price of $27.77 per share, totaling $13.89 million. These repurchases were conducted as part of a publicly announced program, and as of October 31, 2012, the company had 47,713,218 shares remaining available for repurchase under the program. This activity indicates continued capital allocation towards shareholder returns, which can be viewed positively by investors as it signals management's confidence in the company's value and its ability to generate sufficient cash flow. Investors should monitor the pace and pricing of future repurchases to assess their ongoing impact on earnings per share and overall financial health.
Financial Highlights
52 data points| Revenue | $238.87M |
| Cost of Revenue | $36.31M |
| Gross Profit | $105.44M |
| Operating Income | $74.36M |
| Interest Expense | $2.63M |
| Net Income | $45.84M |
| EPS (Basic) | $0.05 |
| EPS (Diluted) | $0.04 |
| Shares Outstanding (Basic) | 994.42M |
| Shares Outstanding (Diluted) | 1.03B |
Key Highlights
- 1Copart repurchased 500,000 shares of common stock during the three months ended October 31, 2012.
- 2The average price paid per share for these repurchases was $27.77.
- 3The total amount spent on share repurchases during the period was approximately $13.89 million (500,000 shares * $27.77/share).
- 4All repurchased shares were made as part of a publicly announced program.
- 5As of October 31, 2012, Copart had 47,713,218 shares remaining authorized for repurchase under its program.
- 6No shares were repurchased in September or October 2012, with all repurchases occurring in August 2012.