Copart Reports Fourth Quarter Fiscal 2026 Financial Results
Copart Reports Fourth Quarter Fiscal 2026 Financial Results
Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2026.
For the three months ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.2 billion, $481.4 million, and $327.4 million, respectively. These represent an increase in revenue of $27.3 million, or 2.4 %; a decrease in gross profit of $28.3 million, or (5.5)%; and a decrease in net income attributable to Copart, Inc. of $68.9 million, or (17.4)%, respectively, from the same period last year. Fully diluted earnings per share for the three months ended July 31, 2026 declined to $0.35 compared to $0.41 last year, or (14.6)%.
For the year ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $4.7 billion, $2.1 billion, and $1.5 billion, respectively. These represent an increase in revenue of $19.3 million, or 0.4 %; a decrease in gross profit of $15.8 million, or (0.8)%; and a decrease in net income attributable to Copart, Inc. of $68.2 million, or (4.4)%, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2026 declined to $1.55 compared to $1.59 last year, or (2.5)%.
On Thursday, September 10, 2026, at 5:30 p.m. Eastern Time (4:30 p.m. Central Time), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed via hyperlink at www.copart.com/investorrelations . A replay of the call will be available through November 2026 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 platforms connect vehicle consignors to approximately 1 million members in over 185 countries. Copart offers a comprehensive suite of vehicle remarketing services to insurance companies, financial institutions, dealers, rental car companies, charities, fleet operators, and individuals, and offers vehicles via auction to dealers, dismantlers, rebuilders, exporters, and the general public. With operations at over 250 locations in 11 countries, Copart sold more than 4 million units in the last year. 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.
Copart, Inc.
Cautionary Note About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management’s Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf. Copart, Inc.
Consolidated Statements of Income
(In thousands, except per share amounts)
| (Unaudited) Three Months Ended Year Ended July 31, July 31, | 20262025% | |||||
| Change | 20262025% | |||||
| Change Service revenues and vehicle sales: | ||||||
| Service revenues | $969,544 | $956,2091.4% | $3,969,520 | $3,968,6620.0% | ||
| Vehicle sales | 182,895168,8888.3% | 696,689678,2962.7% | ||||
| Total service revenues and vehicle sales | 1,152,4391,125,0972.4% | 4,666,2094,646,9580.4% | ||||
| Operating expenses: | ||||||
| Facility operations | 450,745418,5007.7% | 1,755,7471,744,4360.6% | ||||
| Cost of vehicle sales | 164,211147,39811.4% | 616,463602,9972.2% | ||||
| Facility depreciation and amortization | 53,75947,17214.0% | 201,669191,7755.2% | ||||
| Facility stock-based compensation | 2,2752,309 | (1.5)% | 8,4728,1074.5% | |||
| Gross profit | 481,449509,718 | (5.5)% | 2,083,8582,099,643 | (0.8)% | ||
| General and administrative | 97,81383,90216.6% | 373,218348,9587.0% | ||||
| General and administrative depreciation and amortization | 7,2026,43511.9% | 27,70424,07415.1% | ||||
| General and administrative stock-based compensation | 7,5306,79010.9% | 30,34629,8971.5% | ||||
| Total operating expenses | 783,535712,50610.0% | 3,013,6192,950,2442.1% | ||||
| Operating income | 368,904412,591 | (10.6)% | 1,652,5901,696,714 | (2.6)% | ||
| Other income: | ||||||
| Interest income, net | 39,61849,839 | (20.5)% | 181,923178,9091.7% | |||
| Other (expense) income, net | (3,811) | 15,978 | (123.9)% | 46419,958 | (97.7)% | |
| Total other income | 35,80765,817 | (45.6)% | 182,387198,867 | (8.3)% | ||
| Income before income taxes | 404,711478,408 | (15.4)% | 1,834,9771,895,581 | (3.2)% | ||
| Income tax expense | 77,88483,100 | (6.3)% | 354,580347,2182.1% | |||
| Net income | 326,827395,308 | (17.3)% | 1,480,3971,548,363 | (4.4)% | ||
| Less: | ||||||
| Net loss attributable to noncontrolling interest | (596) | (1,046) | (43.0)% | (3,873) | (4,086) | (5.2)% |
| Net income attributable to Copart, Inc.$327,423 | $396,354 | (17.4)% | $1,484,270 | $1,552,449 | (4.4)% | |
| Basic net income per common share | $0.35 | $0.41 | (14.6)% | $1.56 | $1.61 | (3.1)% |
| Weighted average common shares outstanding | 927,067967,100 | (4.1)% | 949,640965,306 | (1.6)% | ||
| Diluted net income per common share | $0.35 | $0.41 | (14.6)% | $1.55 | $1.59 | (2.5)% |
| Diluted weighted average common shares outstanding | 932,140977,778 | (4.7)% | 956,860977,563 | (2.1)% | ||
Copart, Inc.
Consolidated Balance Sheets
(In thousands)
(Unaudited) July 31, 2026July 31, 2025 ASSETS Current assets: Cash, cash equivalents, and restricted cash$ 1,907,901$ 2,780,531 Investment in held to maturity securities2,581,9012,008,539 Accounts receivable, net of allowance for credit losses of $18,551 and809,247762,811 $12,945, respectively Vehicle pooling costs122,948116,145 Inventories51,38239,661 Income taxes receivable49,856580 Prepaid expenses and other assets44,95946,361 Total current assets5,568,1945,754,628 Property and equipment, net3,733,2203,598,093 Operating lease right-of-use assets83,72899,708 Intangibles, net50,47762,832 Goodwill511,297517,779 Other assets80,89457,862 Total assets$ 10,027,810$ 10,090,902 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY
Current liabilities: Accounts payable and accrued liabilities$ 634,675$ 591,831 Deferred revenue32,46630,440 Income taxes payable21,43741,141 Current portion of operating and finance lease liabilities15,16319,869 Total current liabilities703,741683,281 Deferred income taxes127,91880,625 Income taxes payable9,06735,635 Operating and finance lease liabilities, net of current portion73,20483,870 Total liabilities913,930883,411 Commitments and contingencies Redeemable non controlling interest16,58520,458 Stockholders’ equity: Preferred stock-- Common stock9397 Additional paid-in capital1,226,3541,214,150 Accumulated other comprehensive loss(109,778)(120,283) Retained earnings7,980,6268,093,069 Total stockholders’ equity9,097,2959,187,033 Total liabilities, redeemable noncontrolling interests and stockholders’$ 10,027,810$ 10,090,902 equity
Copart, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Year Ended July 31, 2026 2025 Cash flows from operating activities: Net income $ 1,480,397 $ 1,548,363 Adjustments to reconcile net income to net cash provided by
operating activities: Depreciation and amortization, including debt cost238,466217,784 Allowance for credit losses5,599354 Equity in losses (income) from unconsolidated affiliates326(149) Stock-based compensation38,81838,004 Loss (gain) on sale of property and equipment1,130(13,726) Deferred taxes47,359(13,440) Changes in operating assets and liabilities, net of effects from acquisitions: Accounts receivable(80,629)(33,950) Vehicle pooling costs(6,358)16,705 Inventories(11,443)4,655 Prepaid expenses and other current and non-current assets(47,613)7,748 Operating lease right-of-use assets and lease liabilities690478 Accounts payable and accrued liabilities32,50769,599 Deferred revenue1,9082,159 Income taxes receivable(49,277)(575) Income taxes payable(47,388)(44,259) Net cash provided by operating activities1,604,4921,799,750 Cash flows from investing activities: Purchases of property and equipment(337,363)(568,990) Assets and liabilities acquired in connection with acquisition(5,004)(1,223) Proceeds from sale of property and equipment12,57531,831 Investment in held to maturity securities(2,889,072)(4,001,918) Proceeds from held to maturity securities2,345,0003,960,000 Investment in unconsolidated affiliate(3,737)(7,148) Net cash used in investing activities(877,601)(587,448) Cash flows from financing activities: Proceeds from the exercise of stock options16,70242,759 Proceeds from the issuance of Employee Stock Purchase Plan shares14,31214,679 Repurchases of common stock(1,632,538)— Payments for employee stock-based tax withholdings(3,736)(5,282) Debt issuance costs(1,534)— Payments of finance lease obligations(60)(49) Net cash (used) provided by financing activities(1,606,854)52,107 Effect of foreign currency translation7,3332,011 Net increase (decrease) in cash, cash equivalents, and restricted cash(872,630)1,266,420 Cash, cash equivalents, and restricted cash at beginning of period2,780,5311,514,111 Cash, cash equivalents, and restricted cash at end of period$ 1,907,901$ 2,780,531 Supplemental disclosure of cash flow information: Interest paid$ 1,866$ 2,019 Income taxes paid, net of refunds$ 398,380$ 409,003 Purchase of property and equipment through settlement of deposit$ 6,222$ 64,050
Copart, Inc.
Segments Information
(In thousands)
| (Unaudited) Three Months Ended July 31, 2026Three Months Ended July 31, | 2025 | |||||
| United States International Total United States International Total Service revenues | $817,822 | $151,722 | $969,544 | $824,813 | $131,396 | $956,209 |
| Vehicle sales | 112,512 | 70,383 | 182,895 | 101,450 | 67,438 | 168,888 |
| Total service revenues and vehicle sales | 930,334 | 222,105 | 1,152,439 | 926,263 | 198,834 | 1,125,097 |
| Facility operations | 420,863 | 85,916 | 506,779 | 390,847 | 77,134 | 467,981 |
| Cost of vehicle sales | 105,671 | 58,540 | 164,211 | 95,155 | 52,243 | 147,398 |
| General and administrative | 91,649 | 20,896 | 112,545 | 82,793 | 14,334 | 97,127 |
| Operating income | $312,151 | $56,753 | $368,904 | $357,468 | $55,123 | $412,591 |
| Year Ended July 31, 2026Year Ended July 31, | 2025 | |||||
| United States International Total United States International Total Service revenues | $3,388,287 | $581,233 | $3,969,520 | $3,451,558 | $517,104 | $3,968,662 |
| Vehicle sales | 419,143 | 277,546 | 696,689 | 403,546 | 274,750 | 678,296 |
| Total service revenues and vehicle sales | 3,807,430 | 858,779 | 4,666,209 | 3,855,104 | 791,854 | 4,646,958 |
| Facility operations | 1,634,412 | 331,476 | 1,965,888 | 1,646,183 | 298,135 | 1,944,318 |
| Cost of vehicle sales | 391,028 | 225,435 | 616,463 | 378,100 | 224,897 | 602,997 |
| General and administrative | 362,950 | 68,318 | 431,268 | 349,935 | 52,994 | 402,929 |
| Operating income | $1,419,040 | $233,550 | $1,652,590 | $1,480,886 | $215,828 | $1,696,714 |
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Copart Investor Relations
investor.relations@copart.com (mailto:investor.relations@copart.com)
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Article ID: nBwNjBMra-20260910 Archive began May 2026 · Available for up to 365 days after publication