Copart(CPRT) - 2026 Q2 - Quarterly Results

Financial Performance - For the three months ended January 31, 2026, Copart reported revenue of $1.1 billion, a decrease of $41.6 million or 3.6% year-over-year[4] - Gross profit for the same period was $492.8 million, down $32.7 million or 6.2% compared to the previous year[4] - Net income attributable to Copart, Inc. for the quarter was $350.7 million, reflecting a decrease of $36.7 million or 9.5% year-over-year[4] - For the six months ended January 31, 2026, total revenue was $2.3 billion, a decrease of $33.4 million or 1.4% from the same period last year[5] - The company reported a fully diluted earnings per share of $0.36 for the quarter, down 10.0% from $0.40 in the prior year[4] - Operating income for the three months ended January 31, 2026, was $388.7 million, a decline of 8.8% compared to the same period last year[11] - Total service revenues and vehicle sales for the three months ended January 31, 2026, reached $1,121,674,000, a decrease from $1,163,316,000 in the same period of 2025[19] - Operating income for the six months ended January 31, 2026, was $819,405,000, compared to $832,578,000 for the same period in 2025, indicating a decline[19] - Service revenues for the six months ended January 31, 2026, totaled $1,943,896,000, down from $1,977,617,000 in the same period of 2025[19] Cash and Assets - Cash, cash equivalents, and restricted cash increased to $5.1 billion as of January 31, 2026, from $2.8 billion as of July 31, 2025[14] - Total assets as of January 31, 2026, were $10.6 billion, up from $10.1 billion as of July 31, 2025[14] - Net cash provided by operating activities for the six months ended January 31, 2026, was $662,753,000, slightly up from $660,401,000 in 2025[17] - Cash, cash equivalents, and restricted cash at the end of the period increased to $5,101,820,000 from $3,338,909,000 year-over-year[17] - The company experienced a net increase in cash of $2,321,289,000 for the six months ended January 31, 2026, compared to $1,824,798,000 in 2025[17] Vehicle Sales and Operations - The company sold over 4 million units in the last year, maintaining its position as a global leader in online vehicle auctions[7] - Copart's interest income increased by 22.7% to $50.0 million for the quarter, compared to $40.7 million in the previous year[11] - Net income for the six months ended January 31, 2026, was $752,177,000, compared to $747,717,000 for the same period in 2025, reflecting a slight increase[17] - Vehicle sales for the six months ended January 31, 2026, amounted to $332,808,000, compared to $332,528,000 in the same period of 2025, showing a marginal increase[19] Expenses - General and administrative expenses for the six months ended January 31, 2026, were $210,406,000, slightly up from $205,080,000 in the same period of 2025[19] - The company reported a net cash provided by investing activities of $1,858,621,000 for the six months ended January 31, 2026, compared to $1,127,508,000 in 2025[17]