Copart Q1 FY2023: Revenue $893.4M (+10.3% YoY), EPS $0.51 vs $0.54; Hurricane Ian costs ~$25M

COPART INC

2023-Q1 EPS reported $0.51 revenue$893,372,000

Revenue $893.4M, up 10.3% YoY; net income $245.8M, down 5.6% YoY.
GAAP diluted EPS $0.51 vs $0.54; non-GAAP diluted EPS $0.51 vs $0.53.
Gross profit $369.5M, down 4.0% YoY due to higher operating costs.
Hurricane Ian (Category 4, Sep 28) caused ~$25M in incremental costs (subhaulers, overtime, travel/lodging).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COPART INC reported the first quarter of fiscal year 2023, which ended October 31, 2022 results: revenue $893.4 million, net income $245.8 million, EPS $0.51.

Period: the first quarter of fiscal year 2023, which ended October 31, 2022
Revenue: $893.4 million
Net income: $245.8 million
EPS: $0.51
Result: reported results

Exact text from the filing

For the three months ended October 31, 2022, revenue, gross profit, and net income were $893.4 million, $369.5 million, and $245.8 million, respectively. These represent an increase in revenue of $83.2 million, or 10.3%; a decrease in gross profit of $15.5 million, or 4.0%; and a decrease in net income of $14.5 million, or 5.6%, respectively, from the same period last year. Fully diluted earnings per share for the three months were $0.51 compared to $0.54 last year, a decrease of 5.6%.

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Source: SEC EDGAR

accession 0000900075-22-000059

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