Copart Inc.
Copart Reports Decline in Second Quarter Financial Results for Fiscal Year 2026
Summary
Copart, Inc. reported a decrease in revenue, gross profit, and net income for the second quarter of fiscal year 2026, compared to the same period last year. The company's total service revenues and vehicle sales declined by 3.6% to $1.1 billion, while gross profit decreased by 6.2% to $492.8 million. Net income attributable to Copart, Inc. fell by 9.5% to $350.7 million. Despite the decline in quarterly results, the year-to-date net income increased slightly by 0.7% to $754.4 million. Copart plans to discuss these results in a conference call on February 19, 2026.
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About Copart Inc.
Copart Inc. is a global leader in online vehicle auctions, providing a platform for buyers and sellers to auction and purchase vehicles of various types. The company's primary function is to facilitate the remarketing of vehicles including cars, trucks, SUVs, motorcycles, RVs, and more, often sourced from insurance companies, dealerships, and fleet operators. Copart's innovative model leverages technology to enhance the auction process, providing a fully digital marketplace accessible to a diverse range of participants worldwide. Notable features of Copart include its extensive inventory, real-time auction capabilities, and the availability of a mobile application that allows users to participate in auctions from anywhere. The company plays a significant role in the automotive and insurance industries, aiding in the efficient turnover of vehicles that are beyond repair, have been involved in accidents, or are simply surplus to requirements. With its extensive global footprint and integration of sophisticated data technology, Copart Inc. significantly impacts the vehicle remarketing and recycling sectors, providing a valuable service that helps streamline and modernize the auto auction industry.
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