Copart Reports Q4 Earnings for Fiscal Year 2026
Copart (CPRT) reported its fourth-quarter earnings results for fiscal year 2026, showing consolidated revenue of $1.2 billion—a modest increase of 2.4% driven by higher service revenues and vehicle sales. Global service revenue rose to $969.5 million (+1.4%), while net income dropped significantly to $327.4 million (-17.4%) due to increased operational costs and lower interest income. The company noted a 2.9% decline in global sold units, with domestic unit sales down by 5.7%, partially offset by international growth of 10%. Insurance-related assignments fell by 4.2%, while collision severity rose sharply at $6,300 per claim (+8.8%). Copart also announced plans to acquire ACV for an undisclosed amount in cash, a move aimed at integrating digital inspection and valuation technology with its logistics capabilities. Despite challenges like rising operating expenses (up 12.7% year over year) and inventory declines of 1%, the company maintained strong liquidity of $5.7 billion as of July's end. Share repurchases totaled $1.63 billion during fiscal year 2026, signaling continued confidence in its long-term value.
Tickers: $CPRT
Topics: acquisition collision_severity diluted_eps insurance_volume net_income revenue unit_sales