Copart (CPRT) Q4 2026 earnings summary

Executive summary

• Focused on three growth pillars: international expansion, domestic whole car expansion, and technology/service investments.

• Announced acquisition of ACV, a major digital automotive marketplace, to enhance scale, technology, and buyer liquidity.

• Integration with ACV will maintain separate brands but leverage combined logistics, technology, and buyer networks.

• Revenue for Q4 FY2026 was $1.2 billion, up 2.4% year-over-year, while net income fell 17.4% to $327.4 million and gross profit declined 5.5% to $481.4 million.

• Full-year revenue reached $4.7 billion, a 0.4% increase, but net income dropped 4.4% to $1.5 billion and gross profit slipped 0.8% to $2.1 billion.

Financial highlights

• Q4 consolidated revenue grew to $1.2B, up 2.4% year-over-year; FY26 revenue was $4.7B, up 0.4%.

• Q4 global gross profit was $481M, down 5.5%; gross margin 41.8%. FY gross profit was $2.1B, down 0.8%.

• Q4 operating income decreased 10.6% to $368.9M; FY operating income down 2.6% to $1.7B.

• Q4 net income attributable to shareholders fell 17.4% to $327.4M; FY net income down 4.4% to $1.48B.

• Q4 gross margin declined due to higher facility operations and cost of vehicle sales, which rose 7.7% and 11.4% respectively.

Outlook and guidance

• ACV acquisition expected to be accretive in the first full year post-close (FY28), with closing targeted by year-end.

• Continued investment in technology, automation, and new products/services to drive growth and efficiency.

• No specific earnings or margin guidance provided; focus remains on cost control and expanding buyer liquidity.