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Copart (CPRT) Q1 FY2022 earnings: revenue $810 million, up 36.6% on the year

Copart Inc. (CPRT) reported revenue of $810 million for Q1 FY2022, the quarter ended 31 October 2021, up 36.6% on the same quarter a year earlier as this quarter's filing gives it. Net income was $260 million, up 30.0% on the year as this quarter's filing gives it, and diluted earnings per share $0.27. The figures are the company's own, from the 10-Q it filed with the SEC on 19 November 2021.

Revenue
$810 million
+36.6% on the year · +8.2% on the quarter
Q2 FY2020Q1 FY2022
Operating margin
40.7%
41.9% a year earlier
Q2 FY2020Q1 FY2022
Net income
$260 million
+30.0% on the year · +1.7% on the quarter
Q2 FY2020Q1 FY2022
Diluted EPS
$0.27
+30.1% on the year · +0.9% on the quarter
Q2 FY2020Q1 FY2022

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ1 FY2022Q4 FY2021Q1 FY2021On the quarterOn the yearLast 8 quarters
Revenue810749593+8.2%+36.6%
Operating income330302249+9.5%+32.8%
Operating margin40.7%40.3%41.9%
Pre-tax income326n/an/a
Income tax65.5n/an/a
Effective tax rate20.1%n/an/a
Net income260256200+1.7%+30.0%
Net margin32.1%n/an/a
Diluted EPS$0.27$0.27$0.21+0.9%+30.1%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ1 FY2022Q4 FY2021Q1 FY2021On the quarterOn the yearLast 8 quarters
Operating cash flow313n/an/a
Capital expenditure64.7n/an/a
Free cash flow248n/an/a
Free cash flow margin30.6%n/an/a
Cash from investing-63.9n/an/a
Cash from financing5.2n/an/a
Depreciation and amortisation31.829.728.9+7.1%+9.7%
Share-based compensation9.5n/an/a
Diluted shares, weighted965m961m960m+0.4%+0.5%
Shares outstanding at period end949m948m944m+0.1%+0.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ1 FY2022Q4 FY2021Q1 FY2021On the quarterOn the yearLast 8 quarters
Shareholders' equity3,7943,5292,711+7.5%+40.0%
Debt409400412+2.2%-0.7%
Other liabilities716n/an/a
Total liabilities and equity4,919n/an/a
Fixed assets2,319n/an/a
Goodwill354n/an/a
Intangible assets43.9n/an/a
Cash and equivalents1,2981,048606+23.9%+114.3%
Receivables563n/an/a
Inventory48.2n/an/a
Other assets293n/an/a
Total assets4,919n/an/a

Questions

What was Copart's revenue in Q1 FY2022?

Copart (CPRT) reported revenue of $810 million for Q1 FY2022, the quarter ended 31 October 2021, up 36.6% on the same quarter a year earlier as the company restated it.

How much did Copart earn in Q1 FY2022?

Net income for Q1 FY2022 was $260 million, up 30.0% on the year, and diluted earnings per share $0.27.

When did Copart report Q1 FY2022 results?

Copart filed its 10-Q for the quarter ended 31 October 2021 with the SEC on 19 November 2021.

Quarterly results, the last 20 quarters

Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *
Revenue8108679408838939571,0229981,0201,0201,1271,0691,1471,1631,2121,1251,1551,1221,2371,152
Operating income330347373325312366419391395380437360406426452413431389464369
Operating margin41%40%40%37%35%38%41%39%39%37%39%34%35%37%37%37%37%35%38%32%
Pre-tax income326342370303313377440424423411472408451463503478487441502405
Tax rate20%16%25%13%21%22%20%18%21%21%19%21%20%17%19%17%17%21%20%19%
Net income260287279264246294350348333326382323362387407396404351402327
Net margin32%33%30%30%28%31%34%35%33%32%34%30%32%33%34%35%35%31%33%28%
Diluted EPS$0.27$0.30$0.29$0.27$0.26$0.30$0.36$0.36$0.34$0.33$0.39$0.33$0.37$0.40$0.42$0.41$0.41$0.36$0.43$0.35
Operating cash flow313134417313312188506359375162496439482178701438535128584358
Capital expenditure64.792.078.610315310489.817016212387.813823717470.587.610869.680.978.8
Free cash flow24842.033921015984.241618821338.84083012464.063035142757.9503279
Buybacksn/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a1,414n/a
Shares outstanding949m950m950m952m952m953m954m957m960m961m962m963m964m966m967m967m968m963m926m926m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 October 2021, filed 19 November 2021: the filing.