Summary
Copart, Inc. reported a slight decrease in overall service revenues for the six months ended January 31, 2026, down 1.7% to $1.94 billion, primarily driven by a 3.1% decline in the United States. This U.S. decrease was attributed to the absence of one-time revenue recognized in the prior fiscal year related to hurricanes Helene and Milton. However, international service revenues grew by 7.8%, largely due to an increase in revenue per car, partially offset by lower volumes. Total vehicle sales remained relatively flat for the six-month period, up a marginal 0.1% to $332.8 million. While U.S. vehicle sales saw a 2.6% increase driven by higher revenue per car, international sales declined by 3.4%, also due to lower volumes as sellers shifted to a consignment model. Operating expenses decreased slightly by 3.2% overall, with a notable 5.8% reduction in U.S. facility operations expenses, partly due to the prior year's hurricane-related costs. The company ended the period with a significantly stronger liquidity position, with cash, cash equivalents, and restricted cash soaring by 83.5% to $5.1 billion.
Financial Highlights
46 data points| Revenue | $1.12B |
| Operating Expenses | $732.96M |
| Operating Income | $388.71M |
| Net Income | $350.73M |
| EPS (Basic) | $0.36 |
| EPS (Diluted) | $0.36 |
| Shares Outstanding (Basic) | 967.21M |
| Shares Outstanding (Diluted) | 975.09M |
Key Highlights
- 1Service revenues declined 4.0% year-over-year for the three months ended January 31, 2026, and 1.7% for the six-month period, mainly due to a decrease in U.S. revenue that was partially offset by international growth.
- 2U.S. service revenue decrease was attributed to the absence of one-time revenue from hurricanes Helene and Milton recognized in the prior fiscal year.
- 3International service revenue growth of 7.8% for the three months and 7.8% for the six months was driven by higher revenue per car, despite a decrease in volume.
- 4Total vehicle sales were down 1.4% for the quarter but increased 0.1% for the six months, with U.S. sales up 2.6% for the six-month period.
- 5Facility operations expenses decreased by 2.4% for the quarter and 3.2% for the six months, primarily driven by a 5.6% reduction in U.S. expenses.
- 6Total other income increased significantly by 42.1% for the quarter and 33.0% for the six months, attributed to higher interest income and currency gains.
- 7Cash, cash equivalents, and restricted cash more than doubled, increasing by 83.5% to $5.1 billion as of January 31, 2026, driven by cash generated from operations and maturing securities.