Income Taxes

3 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective income tax rates for the three-month period ended July 31, 2024 was 25.0% compared with 21.9% in the comparable period in the prior fiscal year. The effective rates were higher than the 21.0% U.S. statutory rate for all periods presented primarily due to state income taxes. The effective rate for the period ended July 31, 2024 was higher than the comparable prior year period primarily due to lower favorable federal tax credits and stock compensation deductions booked in the prior period.