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Form 8-K

sec.gov

8-K — COPART INC

Accession: 0001193125-26-234447

Filed: 2026-05-21

Period: 2026-05-21

CIK: 0000900075

SIC: 5500 (RETAIL-AUTO DEALERS & GASOLINE STATIONS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — cprt-20260521.htm (Primary)

EX-99.1 (cprt-ex99_1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: cprt-20260521.htm · Sequence: 1

8-K

false000090007500009000752026-05-212026-05-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 21, 2026

COPART, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware

000-23255

94-2867490

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

14185 Dallas Parkway

Suite 300

Dallas, Texas

75254

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 972 391-5000

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001

CPRT

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

INFORMATION INCLUDED IN THIS REPORT

Section 2 — Financial Information

Item 2.02 Results of Operations and Financial Condition

The following information and the exhibit attached hereto as Exhibit 99.1 are intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.” This information and the exhibit attached hereto as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing, except as shall be expressly set forth by specific reference in such filing.

On May 21, 2026, Copart, Inc. issued a press release announcing its financial results for the third quarter of fiscal year 2026, which ended April 30, 2026. The full text of the press release is furnished herewith as Exhibit 99.1.

Section 9 — Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are furnished herewith:

Exhibit

Number

Description

99.1

Press release, dated May 21, 2026, 2025 of Copart, Inc. announcing its financial results for the third quarter of fiscal year 2026, which ended April 30, 2026.

104

Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COPART, INC.

Dated:

May 21, 2026

By:

/s/ LEAH STEARNS

Leah Stearns, Chief Finanacial Officer

(Principal Finanacial and Accounting Officer and duly Authorized Officer)

INDEX TO EXHIBITS

Exhibit

Number

Description

99.1

Press release, dated May 21, 2026, 2025 of Copart, Inc. announcing its financial results for the third quarter of fiscal year 2026, which ended April 30, 2026.

104

Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL).

EX-99.1

EX-99.1

Filename: cprt-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Copart, Inc.

For Immediate Release

Copart Reports Third Quarter Fiscal 2026 Financial Results

Dallas, Texas May 21, 2026 — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended April 30, 2026.

For the three months ended April 30, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.2 billion, $572.6 million, and $402.4 million, respectively. These represent an increase in revenue of $25.4 million, or 2.1%; an increase in gross profit of $20.3 million, or 3.7%; and a decrease in net income attributable to Copart, Inc. of $(4.2) million, or (1.0)%, respectively, from the same period last year. Fully diluted earnings per share for three months ended April 30, 2026 was $0.43 compared to $0.42 last year, an increase of 2.4%.

For the nine months ended April 30, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $3.5 billion, $1.6 billion, and $1.2 billion, respectively. These represent a decrease in revenue of $(8.1) million, or (0.2)%; an increase in gross profit of $12.5 million, or 0.8%; and an increase in net income attributable to Copart, Inc. of $0.8 million, or 0.1 %, respectively, from the same period last year. Fully diluted earnings per share for nine months ended April 30, 2026 was $1.20 compared to $1.18 last year, an increase of 1.7 %.

On Thursday, May 21, 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 September 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)

Three Months Ended

April 30,

Nine Months Ended

April 30,

2026

2025

% Change

2026

2025

% Change

Service revenues and vehicle sales:

Service revenues

$

1,056,080

$

1,034,836

2.1

%

$

2,999,976

$

3,012,453

(0.4

)%

Vehicle sales

180,986

176,880

2.3

%

513,794

509,408

0.9

%

Total service revenues and vehicle sales

1,237,066

1,211,716

2.1

%

3,513,770

3,521,861

(0.2

)%

Operating expenses:

Facility operations

450,317

439,417

2.5

%

1,305,002

1,325,936

(1.6

)%

Cost of vehicle sales

160,277

169,714

(5.6

)%

452,252

455,599

(0.7

)%

Facility depreciation and amortization

51,993

48,163

8.0

%

147,910

144,603

2.3

%

Facility stock-based compensation

1,880

2,155

(12.8

)%

6,197

5,798

6.9

%

Gross profit

572,599

552,267

3.7

%

1,602,409

1,589,925

0.8

%

General and administrative

93,744

87,451

7.2

%

275,405

265,056

3.9

%

General and administrative depreciation and amortization

6,990

6,253

11.8

%

20,502

17,639

16.2

%

General and administrative stock-based compensation

7,583

7,018

8.1

%

22,816

23,107

(1.3

)%

Total operating expenses

772,784

760,171

1.7

%

2,230,084

2,237,738

(0.3

)%

Operating income

464,282

451,545

2.8

%

1,283,686

1,284,123

(0.0

)%

Other income (expense):

Interest income, net

38,813

42,776

(9.3

)%

142,305

129,070

10.3

%

Other (expense) income, net

(1,001

)

8,483

(111.8

)%

4,275

3,980

7.4

%

Total other income

37,812

51,259

(26.2

)%

146,580

133,050

10.2

%

Income before income taxes

502,094

502,804

(0.1

)%

1,430,266

1,417,173

0.9

%

Income tax expense

100,701

97,466

3.3

%

276,696

264,118

4.8

%

Net income

401,393

405,338

(1.0

)%

1,153,570

1,153,055

0.0

%

Less: Net loss attributable to noncontrolling interest

(1,008

)

(1,271

)

(20.7

)%

(3,277

)

(3,040

)

7.8

%

Net income attributable to Copart, Inc.

$

402,401

$

406,609

(1.0

)%

$

1,156,847

$

1,156,095

0.1

%

Basic net income per common share

$

0.43

$

0.42

2.4

%

$

1.21

$

1.20

0.8

%

Weighted average common shares outstanding

936,293

966,234

(3.1

)%

957,280

964,702

(0.8

)%

Diluted net income per common share

$

0.43

$

0.42

2.4

%

$

1.20

$

1.18

1.7

%

Diluted weighted average common shares outstanding

942,770

978,089

(3.6

)%

965,215

977,485

(1.3

)%

Copart, Inc.

Consolidated Balance Sheets

(In thousands)

(Unaudited)

April 30, 2026

July 31, 2025

ASSETS

Current assets:

Cash, cash equivalents, and restricted cash

$

3,354,142

$

2,780,531

Investment in held to maturity securities

845,570

2,008,539

Accounts receivable, net of allowance for credit losses of $14,636 and $12,945, respectively

794,472

762,811

Vehicle pooling costs

117,979

116,145

Inventories

49,632

39,661

Income taxes receivable

721

580

Prepaid expenses and other assets

54,157

46,361

Total current assets

5,216,673

5,754,628

Property and equipment, net

3,715,922

3,598,093

Operating lease right-of-use assets

88,066

99,708

Intangibles, net

53,943

62,832

Goodwill

522,703

517,779

Other assets

51,729

57,862

Total assets

$

9,649,036

$

10,090,902

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable and accrued liabilities

$

598,290

$

591,831

Deferred revenue

33,494

30,440

Income taxes payable

37,650

41,141

Current portion of operating and finance lease liabilities

15,825

19,869

Total current liabilities

685,259

683,281

Deferred income taxes

89,733

80,625

Income taxes payable

5,308

35,635

Operating and finance lease liabilities, net of current portion

77,291

83,870

Total liabilities

857,591

883,411

Commitments and contingencies

Redeemable non controlling interest

17,181

20,458

Stockholders’ equity:

Preferred stock

-

-

Common stock

93

97

Additional paid-in capital

1,207,201

1,214,150

Accumulated other comprehensive loss

(87,207

)

(120,283

)

Retained earnings

7,654,177

8,093,069

Total stockholders’ equity

8,774,264

9,187,033

Total liabilities, redeemable noncontrolling interests and stockholders’ equity

$

9,649,036

$

10,090,902

Copart, Inc.

Consolidated Statements of Cash Flows

(Unaudited)

Nine Months Ended April 30,

(In thousands)

2026

2025

Cash flows from operating activities:

Net income

$

1,153,570

$

1,153,055

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization, including debt cost

168,799

163,642

Allowance for credit losses

1,634

153

Equity in (earnings) losses of unconsolidated affiliates

(390

)

(135

)

Stock-based compensation

29,013

28,905

Loss (gain) on sale of property and equipment

1,665

(1,041

)

Deferred income taxes

8,274

67

Changes in operating assets and liabilities:

Accounts receivable

(57,293

)

(1,916

)

Vehicle pooling costs

(1,182

)

14,944

Inventories

(9,442

)

(180

)

Prepaid expenses, other current and non-current assets

(11,519

)

(935

)

Operating lease right-of-use assets and lease liabilities

853

915

Accounts payable and accrued liabilities

(5,479

)

56,060

Deferred revenue

2,839

1,961

Income taxes receivable

(128

)

1

Income taxes payable

(34,263

)

(54,222

)

Net cash provided by operating activities

1,246,951

1,361,274

Cash flows from investing activities:

Purchases of property and equipment

(258,553

)

(481,349

)

Assets and liabilities acquired in connection with acquisition

(4,747

)

(1,213

)

Proceeds from sale of property and equipment

11,077

4,533

Purchases of held to maturity securities

(845,570

)

(2,017,843

)

Proceeds from held to maturity securities

2,035,000

1,940,000

Investment in unconsolidated affiliate

(3,737

)

(3,177

)

Net cash provided by (used in) investing activities

933,470

(559,049

)

Cash flows from financing activities:

Proceeds from the exercise of stock options

14,162

40,171

Proceeds from the issuance of Employee Stock Purchase Plan shares

7,460

7,404

Repurchases of common stock

(1,632,537

)

-

Payments for employee stock-based tax withholdings

(2,762

)

(3,358

)

Debt issuance costs

(1,534

)

-

Payments of finance lease obligations

(11

)

(44

)

Net cash (used in) provided by financing activities

(1,615,222

)

44,173

Effect of foreign currency translation

8,412

5,990

Net increase in cash, cash equivalents, and restricted cash

573,611

852,388

Cash, cash equivalents, and restricted cash at beginning of period

2,780,531

1,514,111

Cash, cash equivalents, and restricted cash at end of period

$

3,354,142

$

2,366,499

Supplemental disclosure of cash flow information:

Interest paid

$

1,628

$

1,972

Income taxes paid, net of refunds

$

315,537

$

318,989

Purchase of property and equipment through settlement of deposit

$

2,850

$

64,050

Copart, Inc.

Segments Information

(In thousands)

(Unaudited)

Three Months Ended April 30, 2026

Three Months Ended April 30, 2025

United States

International

Total

United States

International

Total

Service revenues

$

895,464

$

160,616

$

1,056,080

$

898,625

$

136,211

$

1,034,836

Vehicle sales

107,398

73,588

180,986

107,832

69,048

176,880

Total service revenues and vehicle sales

1,002,862

234,204

1,237,066

1,006,457

205,259

1,211,716

Facility operations

419,714

84,476

504,190

412,895

76,840

489,735

Cost of vehicle sales

99,024

61,253

160,277

113,853

55,861

169,714

General and administrative

93,679

14,638

108,317

87,244

13,478

100,722

Operating income

$

390,445

$

73,837

$

464,282

$

392,465

$

59,080

$

451,545

Nine Months Ended April 30, 2026

Nine Months Ended April 30, 2025

United States

International

Total

United States

International

Total

Service revenues

$

2,570,465

$

429,511

$

2,999,976

$

2,626,745

$

385,708

$

3,012,453

Vehicle sales

306,631

207,163

513,794

302,097

207,311

509,408

Total service revenues and vehicle sales

2,877,096

636,674

3,513,770

2,928,842

593,019

3,521,861

Facility operations

1,213,549

245,560

1,459,109

1,255,336

221,001

1,476,337

Cost of vehicle sales

285,356

166,896

452,252

282,946

172,653

455,599

General and administrative

271,301

47,422

318,723

267,142

38,660

305,802

Operating income

$

1,106,890

$

176,796

$

1,283,686

$

1,123,418

$

160,705

$

1,284,123

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

-Number 240

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Title of a 12(b) registered security.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Subsection b

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Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Securities Act

-Number 230

-Section 425

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