Copart (CPRT) Q2 Earnings Summary Copart reported fiscal Q2 2026 results for the quarter ended January 31, 2026, with the following financial metrics: - Revenue: $1.1 billion, down $41.6 million (-3.6%) - Gross profit: $492.8 million, down $32.7 million (-6.2%) - Net income: $350.7 million, down $36 million - EPS: $0.36, below FactSet estimate of $0.39 Key operational factors cited by executives: - Insurance volumes declined 9% - Softer claims activity and shifting insurance market dynamics - Decreased total loss frequency and severity The company indicated it will continue investing in land capacity and artificial intelligence despite the volume decline. Shares fell in after-hours trading following the announcement.
Read full analysisCopart (CPRT) Q2 Earnings Summary Copart reported fiscal Q2 2026 results for the quarter ended January 31, 2026, with the following financial metrics: - Revenue: $1.1 billion, down $41.6 million (-3.6%) - Gross profit: $492.8 million, down $32.7 million (-6.2%) - Net income: $350.7 million, down $36 million - EPS: $0.36, below FactSet estimate of $0.39 Key operational factors cited by executives: - Insurance volumes declined 9% - Softer claims activity and shifting insurance market dynamics - Decreased total loss frequency and severity The company indicated it will continue investing in land capacity and artificial intelligence despite the volume decline. Shares fell in after-hours trading following the announcement.
Copart operates the world's largest online vehicle auction platform, primarily selling salvage and clean-title vehicles on behalf of insurance companies, dealers, and the general public across more than 200 locations globally. The company's heavy dependence on insurance consignment volumes — its core revenue driver — makes it directly exposed to the declining total loss frequency and 9% drop in insurance volumes that drove this quarter's earnings miss.