Summary
Copart Inc.'s (CPRT) third-quarter report for the fiscal year ending July 31, 2026, shows a modest increase in total service revenues, up 2.1% year-over-year to $1.06 billion, primarily driven by strong performance in its international markets. While U.S. service revenues saw a slight decrease of 0.4%, international service revenues surged by 17.9%, boosted by both increased volume and higher revenue per car. Vehicle sales also experienced a slight uptick of 2.3% to $181 million, with international sales contributing positively. However, operating expenses, particularly facility operations, increased by 3.0%, impacting overall profitability margins. The company's liquidity remains strong, with cash, cash equivalents, and restricted cash increasing by 20.6% to $3.35 billion. This increase was supported by strong cash flow from operations and strategic reinvestment in U.S. Treasury Bills. Despite a decrease in working capital, primarily due to share repurchases and timing of payments, Copart has ample resources to fund its ongoing operations and future expansion plans. The company also highlighted its robust stock repurchase program, having bought back approximately $1.63 billion worth of shares in the first nine months of the fiscal year, demonstrating a commitment to returning value to shareholders.
Financial Highlights
46 data points| Revenue | $1.24B |
| Operating Expenses | $772.78M |
| Operating Income | $464.28M |
| Net Income | $402.40M |
| EPS (Basic) | $0.43 |
| EPS (Diluted) | $0.43 |
| Shares Outstanding (Basic) | 936.29M |
| Shares Outstanding (Diluted) | 942.77M |
Key Highlights
- 1Total service revenues increased by 2.1% to $1.056 billion for the three months ended April 30, 2026.
- 2International service revenues showed significant growth, increasing by 17.9% to $160.6 million, driven by volume and revenue per car.
- 3Total vehicle sales increased by 2.3% to $180.9 million for the three months ended April 30, 2026.
- 4Facility operations expenses increased by 3.0% to $504.2 million, reflecting increased costs in both U.S. and international operations.
- 5General and administrative expenses rose by 7.5% to $108.3 million, largely due to increased labor costs in both the U.S. and internationally.
- 6Cash, cash equivalents, and restricted cash significantly increased by 20.6% to $3.35 billion as of April 30, 2026.
- 7The company repurchased $1.63 billion of its common stock during the nine months ended April 30, 2026, as part of its ongoing stock repurchase program.