Revenue rose 2.1% to $1.2 billion, while net income reached $402.4 million in the third quarter of fiscal 2026
Copart, Inc, a global leader in online vehicle remarketing and auction services, has announced its financial results for the third quarter and first nine months of fiscal 2026, highlighting continued operational resilience and stable profitability despite a mixed macroeconomic environment and fluctuations across the automotive salvage industry. The company’s latest performance demonstrates its ability to maintain strong margins, generate consistent earnings growth, and continue expanding its digital auction platform and global operations.
For the quarter ended April 30, 2026, Copart reported revenue of $1.2 billion, reflecting an increase of $25.4 million, or 2.1%, compared to the same quarter in the prior fiscal year. The company’s revenue growth was driven by steady demand for its online auction services, increased vehicle remarketing activity, and continued contributions from both domestic and international operations. Copart’s diversified customer base, which includes insurance companies, financial institutions, dealerships, rental car companies, and individual buyers, continued to support the company’s overall revenue performance during the quarter.
Gross profit for the third quarter reached $572.6 million, representing an increase of $20.3 million, or 3.7%, compared to the same period last year. The improvement in gross profit reflects the company’s continued operational efficiencies, disciplined cost management, and strong execution across its global marketplace network. Copart has consistently focused on optimizing its logistics, yard operations, and digital auction infrastructure, which has enabled the company to sustain healthy profit margins while handling increasing transaction volumes.
Net income attributable to Copart, Inc. for the quarter totaled $402.4 million, slightly lower than the prior-year period by $4.2 million, or 1.0%. Despite the modest decline in net income, the company delivered growth in diluted earnings per share, underscoring the strength of its financial position and capital allocation strategy. Fully diluted earnings per share for the quarter increased to $0.43 from $0.42 during the same quarter last year, representing a 2.4% year-over-year increase.
The company’s quarterly results highlight Copart’s ability to navigate changing market conditions while continuing to invest in long-term growth initiatives. The automotive remarketing industry has experienced ongoing supply fluctuations, evolving insurance trends, and broader economic uncertainty over the past year. However, Copart’s scalable online auction platform and extensive operational footprint have helped the company maintain consistent financial performance.
In addition to its quarterly performance, Copart also released financial results for the first nine months of fiscal 2026. For the nine-month period ended April 30, 2026, revenue totaled $3.5 billion, reflecting a slight decrease of $8.1 million, or 0.2%, compared to the same period in fiscal 2025. Although revenue was marginally lower year over year, the company continued to demonstrate profitability and operational discipline throughout the reporting period.
Gross profit for the first nine months of fiscal 2026 increased to $1.6 billion, up $12.5 million, or 0.8%, compared to the prior-year period. The increase in gross profit despite relatively flat revenue growth reflects the company’s focus on operational efficiency, cost control, and strategic investments in technology and infrastructure. Copart has continued enhancing its digital auction ecosystem, enabling buyers and sellers to transact more efficiently across global markets.
Net income attributable to Copart, Inc. for the nine-month period totaled approximately $1.2 billion, representing a modest increase of $0.8 million, or 0.1%, from the same period last year. Fully diluted earnings per share for the nine months rose to $1.20 compared to $1.18 in the prior-year period, reflecting a 1.7% increase year over year.
Copart’s ability to sustain profitability while facing industry headwinds demonstrates the resilience of its business model. The company has built one of the largest online vehicle auction platforms in the world, connecting sellers and buyers across multiple markets through a fully digital marketplace. Its technology-driven approach continues to provide competitive advantages, including efficient auction operations, broad buyer participation, and enhanced scalability.
The company’s global expansion strategy has also remained an important contributor to long-term growth. Copart continues to strengthen its presence in international markets, including Europe, the Middle East, and other regions where demand for vehicle remarketing services remains strong. By leveraging its technology infrastructure and operational expertise, the company has positioned itself to capitalize on increasing demand for online salvage and used vehicle auctions worldwide.
Insurance industry partnerships continue to represent a core component of Copart’s business model. Many major insurance providers rely on Copart’s auction and remarketing services to manage total-loss vehicles efficiently and maximize recovery values. As vehicle complexity and repair costs continue to rise, insurers increasingly utilize salvage remarketing solutions to streamline claims management processes. Copart’s established relationships and strong service capabilities continue to reinforce its leadership position within the industry.
During the quarter, Copart also maintained a strong balance sheet and liquidity position, providing the company with flexibility to pursue future investments, facility expansions, and technological advancements. The company has consistently invested in land acquisitions, operational facilities, and platform enhancements to support long-term growth and accommodate increasing auction volumes.
As part of its ongoing commitment to transparency and shareholder communication, Copart announced that it will host a conference call to discuss its third-quarter fiscal 2026 results. The conference call is scheduled for Thursday, May 21, 2026, at 5:30 p.m. Eastern Time (4:30 p.m. Central Time). Management is expected to provide additional insights into the company’s financial performance, operational trends, market conditions, and strategic priorities moving forward.
The conference call will be webcast live through the company’s investor relations website, allowing shareholders, analysts, and other interested parties to access the discussion remotely. A replay of the webcast will remain available through September 2026 on the investor relations section of Copart’s website.
Looking ahead, Copart remains focused on driving sustainable long-term growth through continued investment in technology, operational efficiency, and international expansion. The company’s scalable digital marketplace, strong customer relationships, and disciplined financial management continue to position it favorably within the evolving automotive remarketing industry.
Despite broader economic uncertainties and industry-specific challenges, Copart’s fiscal 2026 results reflect the company’s continued ability to generate stable revenue, maintain strong profitability, and deliver shareholder value. With increasing demand for online vehicle auctions and remarketing solutions, Copart appears well-positioned to continue leveraging its market leadership and global platform capabilities in the quarters ahead.
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.
