Last10K.com

Copart Inc (CPRT) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, July 31, 2021

Copart Inc

CIK: 900075 Ticker: CPRT

Exhibit 99.1
Copart, Inc.
For Immediate Release
Copart Reports Fourth Quarter Fiscal 2021 Financial Results
Dallas, Texas. (September 8, 2021) — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2021.
For the three months ended July 31, 2021, revenue, gross profit, and net income were $748.6 million, $357.5 million, and $256.0 million, respectively. These represent an increase in revenue of $223.0 million, or 42.4%; an increase in gross profit of $107.1 million, or 42.7%; and an increase in net income of $90.4 million, or 54.6%, respectively, from the same period last year. Fully diluted earnings per share for the three months ended July 31, 2021 were $1.06 compared to $0.69 last year, an increase of 53.6%.
For the year ended July 31, 2021, revenue, gross profit, and net income were $2.7 billion, $1.3 billion, and $936.5 million, respectively. These represent an increase in revenue of $486.9 million, or 22.1%; an increase in gross profit of $335.3 million, or 33.3%; and an increase in net income of $236.6 million, or 33.8%, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2021 were $3.90 compared to $2.93 last year, an increase of 33.1%.
Excluding the impact of certain discrete income tax items, acquisition related integration charges, foreign currency-related gains and losses, and certain income tax benefits, non-GAAP fully diluted earnings per share for the three months ended July 31, 2021 and 2020, were $1.03 and $0.68, respectively, which was an increase of 51.5%. Excluding the impact of certain discrete income tax items, acquisition related integration charges, foreign currency-related gains and losses, certain income tax benefits and payroll taxes related to stock-based compensation, non-GAAP fully diluted earnings per share for the year ended July 31, 2021 and 2020, were $3.70 and $2.56, respectively, which was an increase of 44.5%. A reconciliation of non-GAAP financial measures to the most directly comparable financial measures computed in accordance with U.S. generally accepted accounting principles (GAAP) can be found in the tables attached to this press release.
On Thursday, September 9, 2021, at 11:00 a.m. Eastern Time, Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed at www.copart.com/investorrelations. A replay of the call will be available through December 2021 by visiting www.copart.com/investorrelations.
About Copart
Copart, Inc., founded in 1982, is a global leader in online vehicle auctions. Copart’s innovative technology and online auction platform links sellers to more than 750,000 Members in over 170 countries. Copart offers services to process and sell vehicles to dealers, dismantlers, rebuilders, exporters, and to the general public. Copart sells vehicles on behalf of insurance companies, banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals. With operations at over 200 locations in 11 countries, Copart has more than 250,000 vehicles available online every day. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a member, visit Copart.com/Register.
- 1 -
Copart, Inc. ~ 14185 Dallas Parkway, Suite 300, Dallas TX 75254 ~ (972) 391-5000

The following information was filed by Copart Inc (CPRT) on Wednesday, September 8, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Copart Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Copart Inc.

Continue

Assess how Copart Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Copart Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
Financial
M & A
Legal
Other
Filter Subcategory:
All
Product
Expense
Geography
Shares
Income
Cash Flow
Earnings
Other
Inside Copart Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flow
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Details)
Accounts Payable And Accrued Liabilities (Tables)
Accounts Receivable, Net
Accounts Receivable, Net (Details 1)
Accounts Receivable, Net (Details)
Accounts Receivable, Net (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Employee Benefit Plan
Employee Benefit Plan (Details Textuals)
Fair Value Measures
Fair Value Measures Fair Value Measures (Details)
Fair Value Measures Fair Value Measures (Tables)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Guarantees - Indemnifications To Officers And Directors
Income Taxes
Income Taxes (Details 1)
Income Taxes (Details 2)
Income Taxes (Details 3)
Income Taxes (Details 4)
Income Taxes (Details Textuals)
Income Taxes (Details)
Income Taxes (Tables)
Intangibles, Net
Intangibles, Net (Details 1)
Intangibles, Net (Details Textuals)
Intangibles, Net (Details)
Intangibles, Net (Tables)
Leases Balance Sheet Presentation Of Operating And Financing Lease Assets And Liabilities (Details)
Leases Lessee, Operating And Financing Lease Maturity (Details)
Leases Lessor (Details)
Leases Supplemental Cash Flow Disclosures (Details)
Leases Weighted Average Term And Discount Rate (Details)
Leases, Codification Topic 842
Leases, Codification Topic 842 (Tables)
Leases, Lease Cost (Details)
Long-Term Debt
Long-Term Debt (Details Textuals)
Long-Term Debt (Details)
Long-Term Debt (Tables)
Net Income Per Share
Net Income Per Share (Details Textuals)
Net Income Per Share (Details)
Net Income Per Share (Tables)
Property And Equipment, Net
Property And Equipment, Net (Details Textuals)
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Related Party Transactions
Related Party Transactions (Details Textuals)
Segment Reporting (Policies)
Segments And Other Geographic Information (Details Textuals)
Segments And Other Geographic Information Segment Reporting
Segments And Other Geographic Information Segment Reporting (Details)
Segments And Other Geographic Information Segment Reporting (Tables)
Stockholder's Equity (Details 1)
Stockholder's Equity (Details 2)
Stockholder's Equity (Details 3)
Stockholder's Equity (Details 4)
Stockholder's Equity (Details Textuals 1)
Stockholder's Equity (Details Textuals 2)
Stockholder's Equity (Details Textuals 3)
Stockholder's Equity (Details Textuals 4)
Stockholder's Equity (Details Textuals)
Stockholder's Equity (Tables)
Stockholders' Equity
Stockholders' Equity (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details 1)
Summary Of Significant Accounting Policies (Details Textuals 1)
Summary Of Significant Accounting Policies (Details Textuals 2)
Summary Of Significant Accounting Policies (Details Textuals)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Disaggregation Of Revenue (Details)
Ticker: CPRT
CIK: 900075
Form Type: 10-K Annual Report
Accession Number: 0000900075-21-000022
Submitted to the SEC: Mon Sep 27 2021 4:53:05 PM EST
Accepted by the SEC: Mon Sep 27 2021
Period: Saturday, July 31, 2021
Industry: Retail Auto Dealers And Gasoline Stations

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cprt/0000900075-21-000022.htm