Copart Inc (CPRT)

Copart Reports Third Quarter Fiscal 2026 Financial ResultsMay 21, 2026 4:15 PM
Business Wire Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended April 30, 2026. For the three months ended April 30, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.2 billion, $572.6 million, and $402.4 million, respectively. These represent an increase in revenue of $25.4 million, or 2.1%; an increase in gross profit of $20.3 million, or 3.7%; and a decrease in net income attributable to Copart, Inc. of $(4.2) million, or (1.0)%, respectively, from the same period last year. Fully diluted earnings per share for three months ended April 30, 2026 was $0.43 compared to $0.42 last year, an increase of 2.4%. For the nine months ended April 30, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $3.5 billion, $1.6 billion, and $1.2 billion, respectively. These represent a decrease in revenue of $(8.1) million, or (0.2)%; an increase in gross profit of $12.5 million, or 0.8%; and an increase in net income attributable to Copart, Inc. of $0.8 million, or 0.1 %, respectively, from the same period last year. Fully diluted earnings per share for nine months ended April 30, 2026 was $1.20 compared to $1.18 last year, an increase of 1.7 %. On Thursday, May 21, 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 September 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. 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
April 30,   Nine Months Ended
April 30,               2026   2025   % Change   2026   2025   % Change Service revenues and vehicle sales:                         Service revenues   $ 1,056,080     $ 1,034,836     2.1 %   $ 2,999,976     $ 3,012,453     (0.4 )% Vehicle sales     180,986       176,880     2.3 %     513,794       509,408     0.9 % Total service revenues and vehicle sales     1,237,066       1,211,716     2.1 %     3,513,770       3,521,861     (0.2 )% Operating expenses:                         Facility operations     450,317       439,417     2.5 %     1,305,002       1,325,936     (1.6 )% Cost of vehicle sales     160,277       169,714     (5.6 )%     452,252       455,599     (0.7 )% Facility depreciation and amortization     51,993       48,163     8.0 %     147,910       144,603     2.3 % Facility stock-based compensation     1,880       2,155     (12.8 )%     6,197       5,798     6.9 % Gross profit     572,599       552,267     3.7 %     1,602,409       1,589,925     0.8 % General and administrative     93,744       87,451     7.2 %     275,405       265,056     3.9 % General and administrative depreciation and amortization     6,990       6,253     11.8 %     20,502       17,639     16.2 % General and administrative stock-based compensation     7,583       7,018     8.1 %     22,816       23,107     (1.3 )% Total operating expenses     772,784       760,171     1.7 %     2,230,084       2,237,738     (0.3 )% Operating income     464,282       451,545     2.8 %     1,283,686       1,284,123     (0.0 )% Other income (expense):                         Interest income, net     38,813       42,776     (9.3 )%     142,305       129,070     10.3 % Other (expense) income, net     (1,001 )     8,483     (111.8 )%     4,275       3,980     7.4 % Total other income     37,812       51,259     (26.2 )%     146,580       133,050     10.2 % Income before income taxes     502,094       502,804     (0.1 )%     1,430,266       1,417,173     0.9 % Income tax expense     100,701       97,466     3.3 %     276,696       264,118     4.8 % Net income     401,393       405,338     (1.0 )%     1,153,570       1,153,055     0.0 % Less: Net loss attributable to noncontrolling interest     (1,008 )     (1,271 )   (20.7 )%     (3,277 )     (3,040 )   7.8 % Net income attributable to Copart, Inc.   $ 402,401     $ 406,609   (1.0 )%   $ 1,156,847     $ 1,156,095 0.1 %                           Basic net income per common share   $ 0.43   $ 0.42     2.4 %   $ 1.21   $ 1.20   0.8 % Weighted average common shares outstanding     936,293       966,234     (3.1 )%     957,280       964,702     (0.8 )%                           Diluted net income per common share   $ 0.43     $ 0.42     2.4 %   $ 1.20     $ 1.18     1.7 % Diluted weighted average common shares outstanding     942,770       978,089     (3.6 )%     965,215       977,485     (1.3 )% Copart, Inc. Consolidated Balance Sheets (In thousands) (Unaudited)       April 30, 2026   July 31, 2025 ASSETS         Current assets:         Cash, cash equivalents, and restricted cash   $ 3,354,142     $ 2,780,531   Investment in held to maturity securities     845,570       2,008,539   Accounts receivable, net of allowance for credit losses of $14,636 and $12,945, respectively     794,472       762,811   Vehicle pooling costs     117,979       116,145   Inventories     49,632       39,661   Income taxes receivable     721       580   Prepaid expenses and other assets     54,157       46,361   Total current assets     5,216,673       5,754,628   Property and equipment, net     3,715,922       3,598,093   Operating lease right-of-use assets     88,066       99,708   Intangibles, net     53,943       62,832   Goodwill     522,703       517,779   Other assets     51,729       57,862   Total assets   $ 9,649,036     $ 10,090,902             LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY Current liabilities:         Accounts payable and accrued liabilities   $ 598,290     $ 591,831   Deferred revenue     33,494       30,440   Income taxes payable     37,650       41,141   Current portion of operating and finance lease liabilities     15,825       19,869   Total current liabilities     685,259       683,281   Deferred income taxes     89,733       80,625   Income taxes payable     5,308       35,635   Operating and finance lease liabilities, net of current portion     77,291       83,870   Total liabilities     857,591       883,411   Commitments and contingencies         Redeemable non controlling interest     17,181       20,458   Stockholders’ equity:         Preferred stock     -       -   Common stock     93       97   Additional paid-in capital     1,207,201       1,214,150   Accumulated other comprehensive loss     (87,207 )     (120,283 ) Retained earnings     7,654,177       8,093,069   Total stockholders’ equity     8,774,264       9,187,033   Total liabilities, redeemable noncontrolling interests and stockholders’ equity   $ 9,649,036     $ 10,090,902   Copart, Inc. Consolidated Statements of Cash Flows (Unaudited)       Nine Months Ended April 30, (In thousands)   2026   2025 Cash flows from operating activities:         Net income   $ 1,153,570     $ 1,153,055   Adjustments to reconcile net income to net cash provided by operating activities:         Depreciation and amortization, including debt cost     168,799       163,642   Allowance for credit losses     1,634       153   Equity in (earnings) losses of unconsolidated affiliates     (390 )     (135 ) Stock-based compensation     29,013       28,905   Loss (gain) on sale of property and equipment     1,665       (1,041 ) Deferred income taxes     8,274       67   Changes in operating assets and liabilities:         Accounts receivable     (57,293 )     (1,916 ) Vehicle pooling costs     (1,182 )     14,944   Inventories     (9,442 )     (180 ) Prepaid expenses, other current and non-current assets     (11,519 )     (935 ) Operating lease right-of-use assets and lease liabilities     853       915   Accounts payable and accrued liabilities     (5,479 )     56,060   Deferred revenue     2,839       1,961   Income taxes receivable     (128 )     1   Income taxes payable     (34,263 )     (54,222 ) Net cash provided by operating activities     1,246,951       1,361,274   Cash flows from investing activities:         Purchases of property and equipment     (258,553 )     (481,349 ) Assets and liabilities acquired in connection with acquisition     (4,747 )     (1,213 ) Proceeds from sale of property and equipment     11,077       4,533   Purchases of held to maturity securities     (845,570 )     (2,017,843 ) Proceeds from held to maturity securities     2,035,000       1,940,000   Investment in unconsolidated affiliate     (3,737 )     (3,177 ) Net cash provided by (used in) investing activities     933,470       (559,049 ) Cash flows from financing activities:         Proceeds from the exercise of stock options     14,162       40,171   Proceeds from the issuance of Employee Stock Purchase Plan shares     7,460       7,404   Repurchases of common stock     (1,632,537 )     -   Payments for employee stock-based tax withholdings     (2,762 )     (3,358 ) Debt issuance costs     (1,534 )     -   Payments of finance lease obligations     (11 )     (44 ) Net cash (used in) provided by financing activities     (1,615,222 )     44,173   Effect of foreign currency translation     8,412       5,990   Net increase in cash, cash equivalents, and restricted cash     573,611       852,388   Cash, cash equivalents, and restricted cash at beginning of period     2,780,531       1,514,111   Cash, cash equivalents, and restricted cash at end of period   $ 3,354,142     $ 2,366,499   Supplemental disclosure of cash flow information:         Interest paid   $ 1,628     $ 1,972   Income taxes paid, net of refunds   $ 315,537     $ 318,989   Purchase of property and equipment through settlement of deposit   $ 2,850     $ 64,050   Copart, Inc. Segments Information (In thousands) (Unaudited)       Three Months Ended April 30, 2026   Three Months Ended April 30, 2025     United States   International   Total   United States   International   Total Service revenues   $ 895,464   $ 160,616   $ 1,056,080   $ 898,625   $ 136,211   $ 1,034,836 Vehicle sales     107,398     73,588     180,986     107,832     69,048     176,880 Total service revenues and vehicle sales     1,002,862     234,204     1,237,066     1,006,457     205,259     1,211,716 Facility operations     419,714     84,476     504,190     412,895     76,840     489,735 Cost of vehicle sales     99,024     61,253     160,277     113,853     55,861     169,714 General and administrative     93,679     14,638     108,317     87,244     13,478     100,722 Operating income   $ 390,445   $ 73,837   $ 464,282   $ 392,465   $ 59,080   $ 451,545     Nine Months Ended April 30, 2026   Nine Months Ended April 30, 2025     United States   International   Total   United States   International   Total Service revenues   $ 2,570,465   $ 429,511   $ 2,999,976   $ 2,626,745   $ 385,708   $ 3,012,453 Vehicle sales     306,631     207,163     513,794     302,097     207,311     509,408 Total service revenues and vehicle sales     2,877,096     636,674     3,513,770     2,928,842     593,019     3,521,861 Facility operations     1,213,549     245,560     1,459,109     1,255,336     221,001     1,476,337 Cost of vehicle sales     285,356     166,896     452,252     282,946     172,653     455,599 General and administrative     271,301     47,422     318,723     267,142     38,660     305,802 Operating income   $ 1,106,890   $ 176,796   $ 1,283,686   $ 1,123,418   $ 160,705   $ 1,284,123   View source version on businesswire.com: https://www.businesswire.com/news/home/20260521385731/en/ Copart Investor Relations
investor.relations@copart.com Original: Copart Reports Third Quarter Fiscal 2026 Financial Results

Copart, Inc. to Release Third Quarter Fiscal 2026 ResultsMay 13, 2026 1:03 PM
Business Wire Copart, Inc. (NASDAQ: CPRT) announced today that it will release earnings for the third quarter of fiscal 2026 after 4:00 p.m. Eastern Time (3:00 p.m. Central) on Thursday, May 21, 2026. On Thursday, May 21, 2026, at 5:30 p.m. Eastern Time (4:30 p.m. Central), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and available for access by clicking “Listen Here” at www.copart.com/investorrelations. A replay of the call will be available through August 2026 at www.copart.com/investorrelations. About Copart Founded in 1982, Copart is a global leader in online vehicle auctions. Copart's innovative technology and online auction platforms connect vehicle consigners 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260513849390/en/ Copart Investor Relations
investor.relations@copart.com Original: Copart, Inc. to Release Third Quarter Fiscal 2026 Results

Another company (CPRT) posts revenue and net income worse than prior year:
Copart posted:
a decrease in revenue of $41.6 million, or -3.6%,
a decrease in gross profit of $32.7 million, or -6.2%, and
a decrease in net income of $36.7 million, or -9.5% from the same period last year.
That is a rather large drop in net income, even before inflation, and worse once effects of inflation are included.
This is happening even while the government is already borrowing over $2 trillion per year and injecting that into the economy and markets. These stimulus injections are already being found to be unsustainably large and at the same time insufficient to keep the house-of-cards, priced-for-perfection stock valuations up. Most companies are posting lower net income, beware, the markets are WAY overvalued.

Copart Reports Second Quarter Fiscal 2026 Financial ResultsFebruary 19, 2026 4:15 PM
Business Wire
Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended January 31, 2026.


For the three months ended January 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.1 billion, $492.8 million, and $350.7 million, respectively. These represent a decrease in revenue of $(41.6) million, or (3.6)%; a decrease in gross profit of $(32.7) million, or (6.2)%; and a decrease in net income attributable to Copart, Inc. of $(36.7) million, or (9.5)%, respectively, from the same period last year. Fully diluted earnings per share for three months ended January 31, 2026 was $0.36 compared to $0.40 last year, a decrease of (10.0)%.


For the six months ended January 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $2.3 billion, $1 billion, and $754.4 million, respectively. These represent a decrease in revenue of $(33.4) million, or (1.4)%; a decrease in gross profit of $(7.8) million, or (0.8)%; and an increase in net income attributable to Copart, Inc. of $5.0 million, or 0.7 %, respectively, from the same period last year. Fully diluted earnings per share for six months ended January 31, 2026 was $0.77 compared to $0.77 last year.


On Thursday, February 19, 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 May 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.


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

January 31,






 






Six Months Ended

January 31,








 






 






 






 






 








 






 






2026






 






2025






 






% Change






 






2026






 






2025






 






% Change








Service revenues and vehicle sales:






 






 






 






 






 






 






 






 






 






 






 






 








Service revenues






 






$






952,051






 






 






$






991,281






 






 






(4.0






)%






 






$






1,943,896






 






 






$






1,977,617






 






 






(1.7






)%








Vehicle sales






 






 






169,623






 






 






 






172,035






 






 






(1.4






)%






 






 






332,808






 






 






 






332,528






 






 






0.1






%








Total service revenues and vehicle sales






 






 






1,121,674






 






 






 






1,163,316






 






 






(3.6






)%






 






 






2,276,704






 






 






 






2,310,145






 






 






(1.4






)%








Operating expenses:






 






 






 






 






 






 






 






 






 






 






 






 








Facility operations






 






 






427,521






 






 






 






439,274






 






 






(2.7






)%






 






 






854,685






 






 






 






886,519






 






 






(3.6






)%








Cost of vehicle sales






 






 






150,432






 






 






 






147,707






 






 






1.8






%






 






 






291,975






 






 






 






285,885






 






 






2.1






%








Facility depreciation and amortization






 






 






48,527






 






 






 






48,963






 






 






(0.9






)%






 






 






95,917






 






 






 






96,440






 






 






(0.5






)%








Facility stock-based compensation






 






 






2,382






 






 






 






1,819






 






 






31.0






%






 






 






4,317






 






 






 






3,643






 






 






18.5






%








Gross profit






 






 






492,812






 






 






 






525,553






 






 






(6.2






)%






 






 






1,029,810






 






 






 






1,037,658






 






 






(0.8






)%








General and administrative






 






 






89,393






 






 






 






86,608






 






 






3.2






%






 






 






181,661






 






 






 






177,605






 






 






2.3






%








General and administrative depreciation and amortization






 






 






6,860






 






 






 






5,236






 






 






31.0






%






 






 






13,512






 






 






 






11,386






 






 






18.7






%








General and administrative stock-based compensation






 






 






7,849






 






 






 






7,498






 






 






4.7






%






 






 






15,233






 






 






 






16,089






 






 






(5.3






)%








Total operating expenses






 






 






732,964






 






 






 






737,105






 






 






(0.6






)%






 






 






1,457,300






 






 






 






1,477,567






 






 






(1.4






)%








Operating income






 






 






388,710






 






 






 






426,211






 






 






(8.8






)%






 






 






819,404






 






 






 






832,578






 






 






(1.6






)%








Other income:






 






 






 






 






 






 






 






 






 






 






 






 








Interest income, net






 






 






49,987






 






 






 






40,747






 






 






22.7






%






 






 






103,492






 






 






 






86,294






 






 






19.9






%








Other income (expense), net






 






 






2,352






 






 






 






(3,907






)






 






(160.2






)%






 






 






5,276






 






 






 






(4,503






)






 






(217.2






)%








Total other income






 






 






52,339






 






 






 






36,840






 






 






42.1






%






 






 






108,768






 






 






 






81,791






 






 






33.0






%








Income before income taxes






 






 






441,049






 






 






 






463,051






 






 






(4.8






)%






 






 






928,172






 






 






 






914,369






 






 






1.5






%








Income tax expense






 






 






91,082






 






 






 






76,510






 






 






19.0






%






 






 






175,995






 






 






 






166,652






 






 






5.6






%








Net income






 






 






349,967






 






 






 






386,541






 






 






(9.5






)%






 






 






752,177






 






 






 






747,717






 






 






0.6






%








Less: Net loss attributable to noncontrolling interest






 






 






(765






)






 






 






(859






)






 






(10.9






)%






 






 






(2,269






)






 






 






(1,769






)






 






28.3






%








Net income attributable to Copart, Inc.






 






$






350,732






 






 






$






387,400






 






 






(9.5






)%






 






$






754,446






 






 






$






749,486






 






 






0.7






%








 






 






 






 






 






 






 






 






 






 






 






 






 








Basic net income per common share






 






$






0.36






 






 






$






0.40






 






 






(10.0






)%






 






$






0.78






 






 






$






0.78






 






 






—






%








Weighted average common shares outstanding






 






 






967,212






 






 






 






964,746






 






 






0.3






%






 






 






967,431






 






 






 






963,961






 






 






0.4






%








 






 






 






 






 






 






 






 






 






 






 






 






 








Diluted net income per common share






 






$






0.36






 






 






$






0.40






 






 






(10.0






)%






 






$






0.77






 






 






$






0.77






 






 






—






%








Diluted weighted average common shares outstanding






 






 






975,089






 






 






 






977,910






 






 






(0.3






)%






 






 






976,095






 






 






 






977,208






 






 






(0.1






)%
















 














 










Copart, Inc.




Consolidated Balance Sheets




(In thousands)




(Unaudited)











 



 






 






January 31, 2026






 






July 31, 2025








ASSETS






 






 






 






 








Current assets:






 






 






 






 








Cash, cash equivalents, and restricted cash






 






$






5,101,821






 






 






$






2,780,531






 








Investment in held to maturity securities






 






 






-






 






 






 






2,008,539






 








Accounts receivable, net of allowance for credit losses of $14,916 and $12,945, respectively






 






 






861,630






 






 






 






762,811






 








Vehicle pooling costs






 






 






129,763






 






 






 






116,145






 








Inventories






 






 






41,870






 






 






 






39,661






 








Income taxes receivable






 






 






817






 






 






 






580






 








Prepaid expenses and other assets






 






 






40,279






 






 






 






46,361






 








Total current assets






 






 






6,176,180






 






 






 






5,754,628






 








Property and equipment, net






 






 






3,693,890






 






 






 






3,598,093






 








Operating lease right-of-use assets






 






 






91,454






 






 






 






99,708






 








Intangibles, net






 






 






57,292






 






 






 






62,832






 








Goodwill






 






 






523,473






 






 






 






517,779






 








Other assets






 






 






52,673






 






 






 






57,862






 








Total assets






 






 






10,594,962






 






 






 






10,090,902






 








 






 






 






 






 








LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY








Current liabilities:






 






 






 






 








Accounts payable and accrued liabilities






 






$






549,171






 






 






$






591,831






 








Deferred revenue






 






 






31,383






 






 






 






30,440






 








Income taxes payable






 






 






16,627






 






 






 






41,141






 








Current portion of operating and finance lease liabilities






 






 






16,692






 






 






 






19,869






 








Total current liabilities






 






 






613,873






 






 






 






683,281






 








Deferred income taxes






 






 






87,625






 






 






 






80,625






 








Income taxes payable






 






 






6,786






 






 






 






35,635






 








Operating and finance lease liabilities, net of current portion






 






 






79,444






 






 






 






83,870






 








Total liabilities






 






 






787,728






 






 






 






883,411






 








Commitments and contingencies






 






 






 






 








Redeemable non-controlling interest






 






 






18,189






 






 






 






20,458






 








Stockholders’ equity:






 






 






 






 








Preferred stock






 






 






-






 






 






 






-






 








Common stock






 






 






96






 






 






 






97






 








Additional paid-in capital






 






 






1,242,164






 






 






 






1,214,150






 








Accumulated other comprehensive loss






 






 






(87,291






)






 






 






(120,283






)








Retained earnings






 






 






8,634,076






 






 






 






8,093,069






 








Total stockholders’ equity






 






 






9,789,045






 






 






 






9,187,033






 








Total liabilities, redeemable noncontrolling interests and stockholders’ equity






 






 






10,594,962






 






 






 






10,090,902






 















 




Copart, Inc.




Consolidated Statements of Cash Flows




(In thousands)




(Unaudited)









 



 






 






Six Months Ended

January 31,








(In thousands)






 






2026






 






2025








Cash flows from operating activities:






 






 






 






 








Net income






 






$






752,177






 






 






$






747,717






 








Adjustments to reconcile net income to net cash provided by operating activities:






 






 






 






 








Depreciation and amortization, including debt cost






 






 






109,713






 






 






 






109,122






 








Allowance for credit losses






 






 






2,103






 






 






 






1,056






 








Equity in (earnings) losses of unconsolidated affiliates






 






 






(368






)






 






 






(61






)








Stock-based compensation






 






 






19,550






 






 






 






19,732






 








Gain on sale of property and equipment






 






 






(214






)






 






 






(194






)








Deferred income taxes






 






 






6,002






 






 






 






47






 








Changes in operating assets and liabilities:






 






 






 






 








Accounts receivable






 






 






(124,815






)






 






 






(133,024






)








Vehicle pooling costs






 






 






(13,086






)






 






 






(10,675






)








Inventories






 






 






(1,583






)






 






 






(16,175






)








Prepaid expenses, other current and non-current assets






 






 






4,862






 






 






 






4,976






 








Operating lease right-of-use assets and lease liabilities






 






 






533






 






 






 






614






 








Accounts payable and accrued liabilities






 






 






(38,672






)






 






 






44,765






 








Deferred revenue






 






 






700






 






 






 






(1,066






)








Income taxes receivable






 






 






(227






)






 






 






(48,239






)








Income taxes payable






 






 






(53,922






)






 






 






(58,194






)








Net cash provided by operating activities






 






 






662,753






 






 






 






660,401






 








Cash flows from investing activities:






 






 






 






 








Purchases of property and equipment






 






 






(177,660






)






 






 






(353,399






)








Assets and liabilities acquired in connection with acquisition






 






 






(4,694






)






 






 






(1,213






)








Proceeds from sale of property and equipment






 






 






9,712






 






 






 






662






 








Purchases of held to maturity securities






 






 






-






 






 






 






(458,542






)








Proceeds from held to maturity securities






 






 






2,035,000






 






 






 






1,940,000






 








Investment in unconsolidated affiliate






 






 






(3,737






)






 






 






-






 








Net cash provided by investing activities






 






 






1,858,621






 






 






 






1,127,508






 








Cash flows from financing activities:






 






 






 






 








Proceeds from the exercise of stock options






 






 






9,078






 






 






 






32,833






 








Proceeds from the issuance of Employee Stock Purchase Plan shares






 






 






7,460






 






 






 






7,404






 








Repurchases of common stock






 






 






(218,184






)






 






 






-






 








Payments for employee stock-based tax withholdings






 






 






(2,190






)






 






 






(2,484






)








Debt issuance costs






 






 






(1,534






)






 






 






-






 








Payments of finance lease obligations






 






 






(6






)






 






 






(40






)








Net cash (used) provided by financing activities






 






 






(205,376






)






 






 






37,713






 








Effect of foreign currency translation






 






 






5,291






 






 






 






(824






)








Net increase in cash, cash equivalents, and restricted cash






 






 






2,321,289






 






 






 






1,824,798






 








Cash, cash equivalents, and restricted cash at beginning of period






 






 






2,780,531






 






 






 






1,514,111






 








Cash, cash equivalents, and restricted cash at end of period






 






$






5,101,820






 






 






$






3,338,909






 








Supplemental disclosure of cash flow information:






 






 






 






 








Interest paid






 






$






1,405






 






 






$






1,371






 








Income taxes paid, net of refunds






 






$






227,470






 






 






$






277,051






 








Purchase of property and equipment through settlement of deposit






 






$






2,411






 






 






$






57,453






 













 




Copart, Inc.




Segments Information




(In thousands)




(Unaudited)











 



 






 






Three Months Ended

January 31, 2026






 






Three Months Ended

January 31, 2025








 






 






United States






 






International






 






Total






 






United States






 






International






 






Total








Service revenues






 






$






819,467






 






$






132,584






 






$






952,051






 






$






868,130






 






$






123,151






 






$






991,281








Vehicle sales






 






 






102,153






 






 






67,470






 






 






169,623






 






 






106,715






 






 






65,320






 






 






172,035








Total service revenues and vehicle sales






 






 






921,620






 






 






200,054






 






 






1,121,674






 






 






974,845






 






 






188,471






 






 






1,163,316








Facility operations






 






 






395,351






 






 






83,080






 






 






478,431






 






 






418,824






 






 






71,232






 






 






490,056








Cost of vehicle sales






 






 






96,375






 






 






54,057






 






 






150,432






 






 






92,807






 






 






54,900






 






 






147,707








General and administrative






 






 






88,422






 






 






15,679






 






 






104,101






 






 






87,321






 






 






12,021






 






 






99,342








Operating income






 






$






341,472






 






$






47,238






 






$






388,710






 






$






375,893






 






$






50,318






 






$






426,211









 






 






Six Months Ended

January 31, 2026






 






Six Months Ended

January 31, 2025








 






 






United States






 






International






 






Total






 






United States






 






International






 






Total








Service revenues






 






$






1,675,001






 






$






268,895






 






$






1,943,896






 






$






1,728,120






 






$






249,497






 






$






1,977,617








Vehicle sales






 






 






199,233






 






 






133,575






 






 






332,808






 






 






194,265






 






 






138,263






 






 






332,528








Total service revenues and vehicle sales






 






 






1,874,234






 






 






402,470






 






 






2,276,704






 






 






1,922,385






 






 






387,760






 






 






2,310,145








Facility operations






 






 






793,834






 






 






161,084






 






 






954,918






 






 






842,441






 






 






144,161






 






 






986,602








Cost of vehicle sales






 






 






186,334






 






 






105,641






 






 






291,975






 






 






169,093






 






 






116,792






 






 






285,885








General and administrative






 






 






177,621






 






 






32,785






 






 






210,406






 






 






179,898






 






 






25,182






 






 






205,080








Operating income






 






$






716,445






 






$






102,960






 






$






819,405






 






$






730,953






 






$






101,625






 






$






832,578







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219559325/en/
Copart Investor Relations

investor.relations@copart.com


Original: Copart Reports Second Quarter Fiscal 2026 Financial Results