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COPART INC 8-K Report, Financial Results (May 22, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 22, 2025
Period End
May 22, 2025
Security
CPRT
In the record · 2016–202610-K1110-Q328-K93

CPRT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 93 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jul ’16Jul ’16
  2. Leadership change8-K · May ’21May ’21
  3. Leadership change8-K · May ’23May ’23
  4. Deal closed8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed May 22, 2025. Cited figures are marked; the original filing is the authoritative source.

Copart (CPRT) reported third quarter fiscal 2025 results for the quarter ended April 30, 2025, showing continued top-line and earnings growth.

Total service revenues and vehicle sales rose 7.5% year over year to $1.21 billiona, while gross profit increased 5.1% to $552.3 million and net income attributable to Copart grew 6.4% to $406.6 million. Diluted EPS was $0.42 versus $0.39 a year earlier, up 7.7%. Growth was driven primarily by service revenues, which rose 9.3%, while vehicle sales declined 2.1%.

Operating expense growth outpaced revenue, with facility operations up 12.3% and G&A up 14.8%, which compressed operating income growth to 3.3%. Below the operating line, interest income rose 18.1% and other income improved, supporting pre-tax income growth of 6.5%. For the nine months ended April 30, 2025, the picture is stronger: revenue grew 11.2% to $3.52 billionb, gross profit rose 9.4% to $1.59 billion, and diluted EPS reached $1.18, up 10.3%.

Operating cash flow was $1.36 billionc, up from $1.03 billion, while capital expenditures rose to $481 million from $373 million, reflecting continued investment in facilities. Cash, cash equivalents and restricted cash increased to $2.37 billion, and held-to-maturity investments totaled $2.02 billion. Total stockholders' equity rose to $8.78 billion, and total liabilities remained modest at $870 million.

For investors, the key takeaways are steady double-digit year-to-date growth and strong cash generation, offset by quarterly margin pressure from rising facility and G&A costs. Note that this 8-K furnishes the earnings press release under Item 2.02 and does not itself contain guidance or management commentary beyond the release text provided; the conference call and any outlook would be found in the webcast and the full release.

02—Key points

Key Highlights

  1. Q3 FY2025 total revenue rose 7.5% to $1.21 billion, led by a 9.3% increase in service revenues, partially offset by a 2.1% decline in vehicle sales.
  2. Q3 diluted EPS was $0.42, up 7.7% from $0.39, and net income attributable to Copart increased 6.4% to $406.6 million.
  3. Operating income grew only 3.3% to $451.5 million in Q3 as facility operations (+12.3%) and G&A (+14.8%) expenses outpaced revenue growth.
  4. Nine-month results were stronger: revenue up 11.2% to $3.52 billion, gross profit up 9.4% to $1.59 billion, and diluted EPS of $1.18, up 10.3%.
  5. Operating cash flow for the nine months increased to $1.36 billion from $1.03 billion, while capex rose to $481 million from $373 million.
  6. Balance sheet strengthened, with cash and restricted cash of $2.37 billion, held-to-maturity securities of $2.02 billion, and stockholders' equity of $8.78 billion versus $7.52 billion at July 31, 2024.
  7. Income tax expense for the nine months declined 0.7% to $264.1 million, while interest income rose 26.3% year to date to $129.1 million.

03—Questions

Frequently Asked Questions

  1. How did Copart perform in the third quarter of fiscal 2025?

    Copart grew total revenue 7.5% to $1.21 billion and diluted EPS 7.7% to $0.42. Service revenues drove the growth, while vehicle sales declined 2.1%. Operating income rose a more modest 3.3% because operating expenses grew 10.2%.

  2. What is driving the increase in operating expenses?

    Facility operations expenses increased 12.3% in the quarter and G&A rose 14.8%. For the nine months, facility operations were up 17.8% and G&A was up 28.4%, indicating that cost growth has been running ahead of revenue growth.

  3. Is Copart generating strong cash flow and funding its growth?

    Yes. Operating cash flow for the nine months was $1.36 billion, up from $1.03 billion. Copart spent $481 million on property and equipment, funded internally, and ended the period with $2.37 billion in cash and restricted cash plus $2.02 billion in held-to-maturity securities.

  4. Does this 8-K include guidance or a forecast for future results?

    No. This filing furnishes the press release under Item 2.02 and contains the reported financial results and forward-looking statement disclaimers. Any outlook or management commentary would be discussed on the earnings conference call or in the full press release materials.

04—Continue

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