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Stockwatch Reports
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News Reports / Industrials / CPRT

CPRTCopart, Inc.

NasdaqGS · Industrials · Mkt cap $28.9B · Avg vol 11.82M

$30.13

+0.58 (+1.96%)

Quote as of October 31, 2026, 8:17 PM ET

News Impact Report · Published September 11, 2026, 2:23 PM ET

CPRT: Copart Reports Q3 FY2026 Earnings With Net Income of $1.16 Billion

Share

Copart, Inc. (CPRT) | Filed with the SEC on September 10, 2026 | Current Price: $29.76 (-3.22% today)


What Happened

Copart filed an 8-K with the SEC on September 10, 2026 (Items 2.02 and 9.01 — Results of Operations and Financial Statements), disclosing its Q3 FY2026 financial results. The company reported net income of $1.156 billion and operating income of $1.284 billion for the quarter, alongside diluted earnings per share of $1.18 and basic EPS of $1.20. These figures reflect the scale of Copart's earnings power in its core vehicle remarketing and online salvage auction business.


Why It Matters

For investors, the headline numbers here are substantial: over $1.15 billion in net income and $1.28 billion in operating income in a single quarter signals that Copart continues to generate significant cash earnings from its platform. The operating income figure notably exceeds net income, consistent with Copart's historically lean below-the-line structure. The stock is trading down 3.22% on the day of this report, suggesting the market may have had higher expectations or that broader market conditions are weighing on the print. It is worth noting that a revenue figure from this specific quarter was not provided in the structured XBRL data accompanying this filing — only the FY2020 revenue figure of $461.4 million is available from the filing's data, which serves as a historical reference point only and is not directly comparable to current performance. Investors should refer to the full 8-K filing for complete top-line disclosure.


Analysis

The Q3 FY2026 results underscore Copart's continued ability to convert operations into earnings at scale. An operating income of $1.284 billion against a net income of $1.156 billion implies a modest gap attributable to items below the operating line — interest income, taxes, and other non-operating items — which is broadly consistent with the company's capital-efficient model. EPS of $1.18 diluted is a concrete per-share data point investors can use as a building block for their own full-year estimates.

The intraday price decline of more than 3% warrants attention. Without a current-quarter revenue figure available in the XBRL data to assess top-line growth trajectory, it is difficult to draw a full picture from this filing alone — a notable gap that could itself be contributing to investor uncertainty today. Watchers should focus on the full 8-K exhibits for revenue, gross margin, and any management commentary on salvage volume trends, insurance partner activity, and international expansion — the key operational levers for Copart's long-term story.

This filing follows StockWatch's initiating coverage on Copart, published September 11, 2026, and the earnings data here provides the first concrete set of quarterly numbers against which that coverage framework can be assessed.


Disclaimer

This report is a news summary prepared for informational purposes only, based solely on data contained in Copart's SEC filing and associated XBRL data as filed on September 10, 2026. It does not constitute investment advice, a solicitation to buy or sell any security, or a recommendation of any kind. Investors should conduct their own due diligence and consult a qualified financial professional before making any investment decisions. Past financial results are not necessarily indicative of future performance.

Existing Coverage

StockWatch has full coverage on CPRT, published 2026-09-11. Read our Initiating Coverage →

Source

Filed with the SEC on 2026-09-10. Read the original filing on EDGAR: https://www.sec.gov/Archives/edgar/data/900075/000119312526387902/cprt-20260910.htm

StockWatch initiated coverage · September 11, 2026

CPRT: Copart's Salvage-Auction Moat Faces Its First Real Cyclical Test

A 39% drawdown has reset the multiple, not the moat. At $29.64, CPRT trades 39.5% below its 52-week high of $48.96 and just 10.6% above its 52-week low of $26.81, putting the shares at roughly 18.4x the $1.61 trailing EPS versus a five-year average north of 35x. The de-rating reflects a genuine volume air-pocket in the salvage cycle, not a structural break in Copart's two-sided marketplace — but at a $28.6B market cap the stock now discounts a meaningful portion of that volume recovery. -

+1.6%

Read the full report →

+1.6%

Key Data

Last

$29.76

P&L ($)

$-0.99

P&L (%)

-3.22%

Day Range

$29.58 - $32.02

Volume

14.48M

Market Cap

$28.9B

Previous Close

$30.75

Open

$31.74

52 Week Range

$26.81 - $48.96

Shares Outstanding

963.31M

Public Float

845.39M

Average Volume

11.82M

As of September 11, 2026, 2:24 PM ET

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