Copart Reports Fourth Quarter Fiscal 2026Financial Results
Exhibit 99.1 Copart, Inc. For Immediate Release Copart Reports Fourth Quarter Fiscal 2026Financial Results Dallas, Texas. (September 10, 2026) — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2026.
For the three months ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.2 billion,$481.4 million, and $327.4 million, respectively.These represent an increase in revenue of $27.3 million, or 2.4 %; a decrease in gross profit of $28.3 million, or (5.5)%; and a decrease in net income attributable to Copart, Inc. of $68.9 million, or (17.4)%, respectively,from the same period last year. Fully diluted earnings per share for the three months ended July 31, 2026 declined to $0.35 compared to $0.41 last year, or (14.6)%.
For the year ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $4.7 billion,$2.1 billion, and $1.5 billion, respectively. These represent an increase in revenue of $19.3 million, or 0.4 %; a decrease in gross profit of $15.8 million, or (0.8)%; and a decrease in net income attributable to Copart, Inc. of $68.2 million, or (4.4)%,respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2026 declined to $1.55 compared to $1.59 last year, or (2.5)%.
On Thursday, September 10, 2026, at 5:30 p.m. Eastern Time (4:30 p.m. Central Time), Copart will conduct a conference call to discuss the results for the quarter. The call will be webcast live and can be accessed via hyperlink at www.copart.com/investorrelations. A replay of the call will be available through November 2026 by visiting www.copart.com/investorrelations.
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. Copart currently operates in the United States (Copart.com), Canada (Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es). For more information, or to become a Member, visit Copart.com/register. Copart, Inc. Cautionary Note About Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to substantial risks and uncertainties. These forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected or implied by our statements and comments. For a more complete discussion of the risks that could affect our business, please review the “Management’s Discussion and Analysis” and the other risks identified in Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission. We encourage investors to review these disclosures carefully. We do not undertake to update any forward-looking statement that may be made from time to time on our behalf.
Copart, Inc. Consolidated Statements of Income (In thousands, except per share amounts) (Unaudited)
July 31, 2026 July 31, 2025 ────────────────────────────────────────────────────────────────────────────── ASSETS Current assets: Cash, cash equivalents, and restricted $ 1,907,901 $ 2,780,531 cash Investment in held to maturity 2,581,901 2,008,539 securities Accounts receivable, net of allowance for credit losses of $18,551 809,247 762,811 and $12,945, respectively Vehicle pooling costs 122,948 116,145 Inventories 51,382 39,661 Income taxes receivable 49,856 580 Prepaid expenses and other 44,959 46,361 assets Total current assets 5,568,194 5,754,628 Property and equipment, net 3,733,220 3,598,093 Operating lease right-of-use 83,728 99,708 assets Intangibles, net 50,477 62,832 Goodwill 511,297 517,779 Other assets 80,894 57,862 Total assets $ 10,027,810 $ 10,090,902 LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued $ 634,675 $ 591,831 liabilities Deferred revenue 32,466 30,440 Income taxes payable 21,437 41,141 Current portion of operating and finance 15,163 19,869 lease liabilities Total current liabilities 703,741 683,281 Deferred income taxes 127,918 80,625 Income taxes payable 9,067 35,635 Operating and finance lease liabilities, 73,204 83,870 net of current portion Total liabilities 913,930 883,411 Commitments and contingencies Redeemable non controlling 16,585 20,458 interest Stockholders’ equity: Preferred stock - - Common stock 93 97 Additional paid-in capital 1,226,354 1,214,150 Accumulated other (109,778 ) (120,283 ) comprehensive loss Retained earnings 7,980,626 8,093,069 Total stockholders’ equity 9,097,295 9,187,033 Total liabilities, redeemable noncontrolling interests and $ 10,027,810 $ 10,090,902 stockholders’ equity
Year Ended July 31, 2026 2025 ────────────────────────────────────────────────────────────────────────────── Cash flows from operating activities: Net income $ 1,480,397 $ 1,548,363 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization, 238,466 217,784 including debt cost Allowance for 5,599 354 credit losses Equity in losses (income) from 326 (149 ) unconsolidated affiliates Stock-based 38,818 38,004 compensation Loss (gain) on sale of property 1,130 (13,726 ) and equipment Deferred taxes 47,359 (13,440 ) Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts (80,629 ) (33,950 ) receivable Vehicle pooling (6,358 ) 16,705 costs Inventories (11,443 ) 4,655 Prepaid expenses and other current (47,613 ) 7,748 and non-current assets Operating lease right-of-use 690 478 assets and lease liabilities Accounts payable and accrued 32,507 69,599 liabilities Deferred revenue 1,908 2,159 Income taxes (49,277 ) (575 ) receivable Income taxes (47,388 ) (44,259 ) payable Net cash provided by operating 1,604,492 1,799,750 activities Cash flows from investing activities: Purchases of property and (337,363 ) (568,990 ) equipment Assets and liabilities acquired in (5,004 ) (1,223 ) connection with acquisition Proceeds from sale of property and 12,575 31,831 equipment Investment in held to maturity (2,889,072 ) (4,001,918 ) securities Proceeds from held to maturity 2,345,000 3,960,000 securities Investment in unconsolidated (3,737 ) (7,148 ) affiliate Net cash used in investing (877,601 ) (587,448 ) activities Cash flows from financing activities: Proceeds from the exercise of stock 16,702 42,759 options Proceeds from the issuance of Employee 14,312 14,679 Stock Purchase Plan shares Repurchases of (1,632,538 ) — common stock Payments for employee (3,736 ) (5,282 ) stock-based tax withholdings Debt issuance (1,534 ) — costs Payments of finance lease (60 ) (49 ) obligations Net cash (used) provided by (1,606,854 ) 52,107 financing activities Effect of foreign currency 7,333 2,011 translation Net increase (decrease) in cash, cash (872,630 ) 1,266,420 equivalents, and restricted cash Cash, cash equivalents, and restricted 2,780,531 1,514,111 cash at beginning of period Cash, cash equivalents, and restricted $ 1,907,901 $ 2,780,531 cash at end of period Supplemental disclosure of cash flow information: Interest paid $ 1,866 $ 2,019 Income taxes paid, $ 398,380 $ 409,003 net of refunds Purchase of property and equipment $ 6,222 $ 64,050 through settlement of deposit
Full text with the tables
Exhibit 99.1
Copart, Inc.
For Immediate Release
Copart Reports Fourth Quarter Fiscal 2026Financial Results
Dallas, Texas. (September 10, 2026) — Copart, Inc. (NASDAQ: CPRT) today reported
financial results for the quarter and year ended July 31, 2026.
For the three months ended July 31, 2026, revenue, gross profit, and net income
attributable to Copart, Inc. were $1.2 billion,$481.4 million, and $327.4
million, respectively.These represent an increase in revenue of $27.3 million,
or 2.4 %; a decrease in gross profit of $28.3 million, or (5.5)%; and a decrease
in net income attributable to Copart, Inc. of $68.9 million, or (17.4)%,
respectively,from the same period last year. Fully diluted earnings per share
for the three months ended July 31, 2026 declined to $0.35 compared to $0.41
last year, or (14.6)%.
For the year ended July 31, 2026, revenue, gross profit, and net income
attributable to Copart, Inc. were $4.7 billion,$2.1 billion, and $1.5 billion,
respectively. These represent an increase in revenue of $19.3 million, or 0.4 %;
a decrease in gross profit of $15.8 million, or (0.8)%; and a decrease in net
income attributable to Copart, Inc. of $68.2 million, or (4.4)%,respectively,
from the same period last year. Fully diluted earnings per share for the year
ended July 31, 2026 declined to $1.55 compared to $1.59 last year, or (2.5)%.
On Thursday, September 10, 2026, at 5:30 p.m. Eastern Time (4:30 p.m. Central
Time), Copart will conduct a conference call to discuss the results for the
quarter. The call will be webcast live and can be accessed via hyperlink at
www.copart.com/investorrelations. A replay of the call will be available through
November 2026 by visiting www.copart.com/investorrelations.
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. Copart currently operates in the United States (Copart.com), Canada
(Copart.ca), the United Kingdom (Copart.co.uk), Brazil (Copart.com.br), the
Republic of Ireland (Copart.ie), Germany (Copart.de), Finland (Copart.fi), the
United Arab Emirates, Oman and Bahrain (Copartmea.com), and Spain (Copart.es).
For more information, or to become a Member, visit Copart.com/register.
Copart, Inc. Cautionary Note About Forward-Looking Statements This press release
contains forward-looking statements within the meaning of federal securities
laws. These forward-looking statements are subject to substantial risks and
uncertainties. These forward-looking statements are subject to certain risks,
trends and uncertainties that could cause actual results to differ materially
from those projected or implied by our statements and comments. For a more
complete discussion of the risks that could affect our business, please review
the “Management’s Discussion and Analysis” and the other risks identified in
Copart’s latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K, as filed with the Securities and Exchange
Commission. We encourage investors to review these disclosures carefully. We do
not undertake to update any forward-looking statement that may be made from time
to time on our behalf.
Contact: Copart Investor Relations
investor.relations@copart.com
Copart, Inc. Consolidated Statements of Income (In thousands, except per share
amounts) (Unaudited)
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Copart, Inc. Consolidated Balance Sheets (In thousands) (Unaudited)
July 31, 2026 July 31, 2025
──────────────────────────────────────────────────────────────────────────────
ASSETS
Current assets:
Cash, cash equivalents, and
restricted $ 1,907,901 $ 2,780,531
cash
Investment in held to maturity 2,581,901 2,008,539
securities
Accounts receivable, net of
allowance
for credit losses of $18,551 809,247 762,811
and
$12,945, respectively
Vehicle pooling costs 122,948 116,145
Inventories 51,382 39,661
Income taxes receivable 49,856 580
Prepaid expenses and other 44,959 46,361
assets
Total current assets 5,568,194 5,754,628
Property and equipment, net 3,733,220 3,598,093
Operating lease right-of-use 83,728 99,708
assets
Intangibles, net 50,477 62,832
Goodwill 511,297 517,779
Other assets 80,894 57,862
Total assets $ 10,027,810 $ 10,090,902
LIABILITIES, REDEEMABLE
NONCONTROLLING
INTERESTS AND STOCKHOLDERS’
EQUITY
Current liabilities:
Accounts payable and accrued $ 634,675 $ 591,831
liabilities
Deferred revenue 32,466 30,440
Income taxes payable 21,437 41,141
Current portion of operating
and finance 15,163 19,869
lease liabilities
Total current liabilities 703,741 683,281
Deferred income taxes 127,918 80,625
Income taxes payable 9,067 35,635
Operating and finance lease
liabilities, 73,204 83,870
net of current portion
Total liabilities 913,930 883,411
Commitments and contingencies
Redeemable non controlling 16,585 20,458
interest
Stockholders’ equity:
Preferred stock - -
Common stock 93 97
Additional paid-in capital 1,226,354 1,214,150
Accumulated other (109,778 ) (120,283 )
comprehensive loss
Retained earnings 7,980,626 8,093,069
Total stockholders’ equity 9,097,295 9,187,033
Total liabilities, redeemable
noncontrolling interests and $ 10,027,810 $ 10,090,902
stockholders’ equity
Copart, Inc. Consolidated Statements of Cash Flows (In thousands) (Unaudited)
Year Ended July 31, 2026 2025
──────────────────────────────────────────────────────────────────────────────
Cash flows from
operating
activities:
Net income $ 1,480,397 $ 1,548,363
Adjustments to
reconcile net
income to net cash
provided by
operating
activities:
Depreciation and
amortization, 238,466 217,784
including
debt cost
Allowance for 5,599 354
credit losses
Equity in losses
(income) from 326 (149 )
unconsolidated
affiliates
Stock-based 38,818 38,004
compensation
Loss (gain) on
sale of property 1,130 (13,726 )
and
equipment
Deferred taxes 47,359 (13,440 )
Changes in
operating assets
and
liabilities, net
of effects from
acquisitions:
Accounts (80,629 ) (33,950 )
receivable
Vehicle pooling (6,358 ) 16,705
costs
Inventories (11,443 ) 4,655
Prepaid expenses
and other current (47,613 ) 7,748
and
non-current assets
Operating lease
right-of-use 690 478
assets and
lease liabilities
Accounts payable
and accrued 32,507 69,599
liabilities
Deferred revenue 1,908 2,159
Income taxes (49,277 ) (575 )
receivable
Income taxes (47,388 ) (44,259 )
payable
Net cash provided
by operating 1,604,492 1,799,750
activities
Cash flows from
investing
activities:
Purchases of
property and (337,363 ) (568,990 )
equipment
Assets and
liabilities
acquired in (5,004 ) (1,223 )
connection with
acquisition
Proceeds from sale
of property and 12,575 31,831
equipment
Investment in held
to maturity (2,889,072 ) (4,001,918 )
securities
Proceeds from held
to maturity 2,345,000 3,960,000
securities
Investment in
unconsolidated (3,737 ) (7,148 )
affiliate
Net cash used in
investing (877,601 ) (587,448 )
activities
Cash flows from
financing
activities:
Proceeds from the
exercise of stock 16,702 42,759
options
Proceeds from the
issuance of
Employee 14,312 14,679
Stock Purchase
Plan shares
Repurchases of (1,632,538 ) —
common stock
Payments for
employee (3,736 ) (5,282 )
stock-based tax
withholdings
Debt issuance (1,534 ) —
costs
Payments of
finance lease (60 ) (49 )
obligations
Net cash (used)
provided by (1,606,854 ) 52,107
financing
activities
Effect of foreign
currency 7,333 2,011
translation
Net increase
(decrease) in
cash, cash (872,630 ) 1,266,420
equivalents, and
restricted cash
Cash, cash
equivalents, and
restricted 2,780,531 1,514,111
cash at beginning
of period
Cash, cash
equivalents, and
restricted $ 1,907,901 $ 2,780,531
cash at end of
period
Supplemental
disclosure of cash
flow
information:
Interest paid $ 1,866 $ 2,019
Income taxes paid, $ 398,380 $ 409,003
net of refunds
Purchase of
property and
equipment $ 6,222 $ 64,050
through settlement
of deposit
Copart, Inc. Segments Information (In thousands) (Unaudited)
Th… Th…
Mo… Mo…
En… En…
Ju… Ju…
31, 31,
20… 20…
──────────────────────────────────────────────────────────────────────────────
Un… In… To… Un… In… To…
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r…
V… 11… 70… 18… 10… 67,… 168…
s…
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s…
r… 93… 22… 1,… 92… 198… 1,1…
a…
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F… 42… 85… 50… 39… 77,… 467…
o…
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v…
s…
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a… 91… 20… 11… 82… 14,… 97,…
a…
O… $ 31… $ 56… $ 36… $ 35… $ 55,… $ 412…
i…
Ye… Ye…
En… En…
Ju… Ju…
31, 31,
20… 20…
──────────────────────────────────────────────────────────────────────────────
Un… In… To… Un… In… To…
St… St…
S… $ 3,… $ 58… $ 3,… $ 3,… $ 517… $ 3,9…
r…
V… 41… 27… 69… 40… 274… 678…
s…
T…
s…
r… 3,… 85… 4,… 3,… 791… 4,6…
a…
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F… 1,… 33… 1,… 1,… 298… 1,9…
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v…
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i…