Copart, Inc. has recently released its 10-K report, providing a comprehensive overview of its financial condition and results of operations. The company, headquartered in Dallas, Texas, is a leading global provider of online auctions and vehicle remarketing services, operating in the United States, Canada, the United Kingdom, Brazil, the Republic of Ireland, Germany, Finland, the United Arab Emirates, Oman, Bahrain, and Spain. Copart offers a wide range of services for processing and selling vehicles primarily over the internet through its Virtual Bidding Third Generation internet auction-style sales technology, catering to various vehicle sellers including insurance companies, banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals.
In its 10-K report, Copart provides a detailed discussion and analysis of its financial condition and results of operations. The company's primary goal is to generate sustainable profits for its stockholders while also providing environmental and social benefits. Copart believes that its business plays a critical role in the global re-use and recycling of vehicles, parts, and raw materials, thereby contributing to environmental stewardship. The company also emphasizes its support for economic development and well-being by enabling more affordable access to mobility around the world and its response to catastrophic weather events in the communities it serves.
Key financial performance measures outlined in the report include service and vehicle sales revenue, operating costs and expenses, and liquidity and cash flows. Copart monitors and analyzes various indicators to manage its business and evaluate its financial and operating performance, including total loss frequency, used car pricing, repair costs, and commodity pricing, among others.
Furthermore, the report highlights Copart's strategy for acquisitions and new operations, with the company aiming to strengthen its coverage by acquiring and developing facilities in new regions. The report also provides detailed tables of operational facilities that Copart has opened and acquired in the United States, Canada, the United Kingdom, Brazil, Germany, Spain, and other regions from August 1, 2021, through July 31, 2024.
In terms of results of operations, the report includes a table showing certain data from Copart's consolidated statements of income expressed as a percentage of total service revenues and vehicle sales for fiscal 2024, 2023, and 2022. The table outlines the breakdown of service revenues and vehicle sales, operating expenses, and income before income tax for each fiscal year, providing a comprehensive overview of Copart's financial performance over the three-year period.
As a result of these announcements, the company's shares have moved 0.7% on the market, and are now trading at a price of $52.4. If you want to know more, read the company's complete 10-K report here.
