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Form 8-K

sec.gov

8-K — COPART INC

Accession: 0001193125-26-387902

Filed: 2026-09-10

Period: 2026-09-10

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-20260910.htm (Primary)

EX-99.1 (cprt-ex99_1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: cprt-20260910.htm · Sequence: 1

8-K

false000090007500009000752026-09-102026-09-10

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): September 10, 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 September 10, 2026, Copart, Inc. issued a press release announcing its financial results for the fourth quarter of fiscal year 2026, which ended July 31, 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 September 10, 2026, of Copart, Inc. announcing its financial results for the fourth quarter of fiscal year 2026, which ended July 31, 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:

September 10, 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 September 10, 2026, of Copart, Inc. announcing its financial results for the fourth quarter of fiscal year 2026, which ended July 31, 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 Fourth Quarter Fiscal 2026 Financial Results

Dallas, Texas. (September 10, 2026) — Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter and year ended July 31, 2026.

For the three months ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $1.2 billion, $481.4 million, and $327.4 million, respectively. These represent an increase in revenue of $27.3 million, or 2.4 %; a decrease in gross profit of $28.3 million, or (5.5)%; and a decrease in net income attributable to Copart, Inc. of $68.9 million, or (17.4)%, respectively, from the same period last year. Fully diluted earnings per share for the three months ended July 31, 2026 declined to $0.35 compared to $0.41 last year, or (14.6)%.

For the year ended July 31, 2026, revenue, gross profit, and net income attributable to Copart, Inc. were $4.7 billion, $2.1 billion, and $1.5 billion, respectively. These represent an increase in revenue of $19.3 million, or 0.4 %; a decrease in gross profit of $15.8 million, or (0.8)%; and a decrease in net income attributable to Copart, Inc. of $68.2 million, or (4.4)%, respectively, from the same period last year. Fully diluted earnings per share for the year ended July 31, 2026 declined to $1.55 compared to $1.59 last year, or (2.5)%.

On Thursday, September 10, 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 November 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

July 31,

Year Ended

July 31,

2026

2025

% Change

2026

2025

% Change

Service revenues and vehicle sales:

Service revenues

$

969,544

$

956,209

1.4

%

$

3,969,520

$

3,968,662

0.0

%

Vehicle sales

182,895

168,888

8.3

%

696,689

678,296

2.7

%

Total service revenues and vehicle sales

1,152,439

1,125,097

2.4

%

4,666,209

4,646,958

0.4

%

Operating expenses:

Facility operations

450,745

418,500

7.7

%

1,755,747

1,744,436

0.6

%

Cost of vehicle sales

164,211

147,398

11.4

%

616,463

602,997

2.2

%

Facility depreciation and amortization

53,759

47,172

14.0

%

201,669

191,775

5.2

%

Facility stock-based compensation

2,275

2,309

(1.5

)%

8,472

8,107

4.5

%

Gross profit

481,449

509,718

(5.5

)%

2,083,858

2,099,643

(0.8

)%

General and administrative

97,813

83,902

16.6

%

373,218

348,958

7.0

%

General and administrative depreciation and amortization

7,202

6,435

11.9

%

27,704

24,074

15.1

%

General and administrative stock-based compensation

7,530

6,790

10.9

%

30,346

29,897

1.5

%

Total operating expenses

783,535

712,506

10.0

%

3,013,619

2,950,244

2.1

%

Operating income

368,904

412,591

(10.6

)%

1,652,590

1,696,714

(2.6

)%

Other income:

Interest income, net

39,618

49,839

(20.5

)%

181,923

178,909

1.7

%

Other (expense) income, net

(3,811

)

15,978

(123.9

)%

464

19,958

(97.7

)%

Total other income

35,807

65,817

(45.6

)%

182,387

198,867

(8.3

)%

Income before income taxes

404,711

478,408

(15.4

)%

1,834,977

1,895,581

(3.2

)%

Income tax expense

77,884

83,100

(6.3

)%

354,580

347,218

2.1

%

Net income

326,827

395,308

(17.3

)%

1,480,397

1,548,363

(4.4

)%

Less: Net loss attributable to noncontrolling interest

(596

)

(1,046

)

(43.0

)%

(3,873

)

(4,086

)

(5.2

)%

Net income attributable to Copart, Inc.

$

327,423

$

396,354

(17.4

)%

$

1,484,270

$

1,552,449

(4.4

)%

Basic net income per common share

$

0.35

$

0.41

(14.6

)%

$

1.56

$

1.61

(3.1

)%

Weighted average common shares outstanding

927,067

967,100

(4.1

)%

949,640

965,306

(1.6

)%

Diluted net income per common share

$

0.35

$

0.41

(14.6

)%

$

1.55

$

1.59

(2.5

)%

Diluted weighted average common shares outstanding

932,140

977,778

(4.7

)%

956,860

977,563

(2.1

)%

Copart, Inc.

Consolidated Balance Sheets

(In thousands)

(Unaudited)

July 31, 2026

July 31, 2025

ASSETS

Current assets:

Cash, cash equivalents, and restricted cash

$

1,907,901

$

2,780,531

Investment in held to maturity securities

2,581,901

2,008,539

Accounts receivable, net of allowance for credit losses of $18,551 and $12,945, respectively

809,247

762,811

Vehicle pooling costs

122,948

116,145

Inventories

51,382

39,661

Income taxes receivable

49,856

580

Prepaid expenses and other assets

44,959

46,361

Total current assets

5,568,194

5,754,628

Property and equipment, net

3,733,220

3,598,093

Operating lease right-of-use assets

83,728

99,708

Intangibles, net

50,477

62,832

Goodwill

511,297

517,779

Other assets

80,894

57,862

Total assets

$

10,027,810

$

10,090,902

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable and accrued liabilities

$

634,675

$

591,831

Deferred revenue

32,466

30,440

Income taxes payable

21,437

41,141

Current portion of operating and finance lease liabilities

15,163

19,869

Total current liabilities

703,741

683,281

Deferred income taxes

127,918

80,625

Income taxes payable

9,067

35,635

Operating and finance lease liabilities, net of current portion

73,204

83,870

Total liabilities

913,930

883,411

Commitments and contingencies

Redeemable non controlling interest

16,585

20,458

Stockholders’ equity:

Preferred stock

-

-

Common stock

93

97

Additional paid-in capital

1,226,354

1,214,150

Accumulated other comprehensive loss

(109,778

)

(120,283

)

Retained earnings

7,980,626

8,093,069

Total stockholders’ equity

9,097,295

9,187,033

Total liabilities, redeemable noncontrolling interests and stockholders’ equity

$

10,027,810

$

10,090,902

Copart, Inc.

Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Year Ended July 31,

2026

2025

Cash flows from operating activities:

Net income

$

1,480,397

$

1,548,363

Adjustments to reconcile net income to net cash provided by

operating activities:

Depreciation and amortization, including debt cost

238,466

217,784

Allowance for credit losses

5,599

354

Equity in losses (income) from unconsolidated affiliates

326

(149

)

Stock-based compensation

38,818

38,004

Loss (gain) on sale of property and equipment

1,130

(13,726

)

Deferred taxes

47,359

(13,440

)

Changes in operating assets and liabilities, net of effects from acquisitions:

Accounts receivable

(80,629

)

(33,950

)

Vehicle pooling costs

(6,358

)

16,705

Inventories

(11,443

)

4,655

Prepaid expenses and other current and non-current assets

(47,613

)

7,748

Operating lease right-of-use assets and lease liabilities

690

478

Accounts payable and accrued liabilities

32,507

69,599

Deferred revenue

1,908

2,159

Income taxes receivable

(49,277

)

(575

)

Income taxes payable

(47,388

)

(44,259

)

Net cash provided by operating activities

1,604,492

1,799,750

Cash flows from investing activities:

Purchases of property and equipment

(337,363

)

(568,990

)

Assets and liabilities acquired in connection with acquisition

(5,004

)

(1,223

)

Proceeds from sale of property and equipment

12,575

31,831

Investment in held to maturity securities

(2,889,072

)

(4,001,918

)

Proceeds from held to maturity securities

2,345,000

3,960,000

Investment in unconsolidated affiliate

(3,737

)

(7,148

)

Net cash used in investing activities

(877,601

)

(587,448

)

Cash flows from financing activities:

Proceeds from the exercise of stock options

16,702

42,759

Proceeds from the issuance of Employee Stock Purchase Plan shares

14,312

14,679

Repurchases of common stock

(1,632,538

)

Payments for employee stock-based tax withholdings

(3,736

)

(5,282

)

Debt issuance costs

(1,534

)

Payments of finance lease obligations

(60

)

(49

)

Net cash (used) provided by financing activities

(1,606,854

)

52,107

Effect of foreign currency translation

7,333

2,011

Net increase (decrease) in cash, cash equivalents, and restricted cash

(872,630

)

1,266,420

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

$

1,907,901

$

2,780,531

Supplemental disclosure of cash flow information:

Interest paid

$

1,866

$

2,019

Income taxes paid, net of refunds

$

398,380

$

409,003

Purchase of property and equipment through settlement of deposit

$

6,222

$

64,050

Copart, Inc.

Segments Information

(In thousands)

(Unaudited)

Three Months Ended July 31, 2026

Three Months Ended July 31, 2025

United States

International

Total

United States

International

Total

Service revenues

$

817,822

$

151,722

$

969,544

$

824,813

$

131,396

$

956,209

Vehicle sales

112,512

70,383

182,895

101,450

67,438

168,888

Total service revenues and vehicle sales

930,334

222,105

1,152,439

926,263

198,834

1,125,097

Facility operations

420,863

85,916

506,779

390,847

77,134

467,981

Cost of vehicle sales

105,671

58,540

164,211

95,155

52,243

147,398

General and administrative

91,649

20,896

112,545

82,793

14,334

97,127

Operating income

$

312,151

$

56,753

$

368,904

$

357,468

$

55,123

$

412,591

Year Ended July 31, 2026

Year Ended July 31, 2025

United States

International

Total

United States

International

Total

Service revenues

$

3,388,287

$

581,233

$

3,969,520

$

3,451,558

$

517,104

$

3,968,662

Vehicle sales

419,143

277,546

696,689

403,546

274,750

678,296

Total service revenues and vehicle sales

3,807,430

858,779

4,666,209

3,855,104

791,854

4,646,958

Facility operations

1,634,412

331,476

1,965,888

1,646,183

298,135

1,944,318

Cost of vehicle sales

391,028

225,435

616,463

378,100

224,897

602,997

General and administrative

362,950

68,318

431,268

349,935

52,994

402,929

Operating income

$

1,419,040

$

233,550

$

1,652,590

$

1,480,886

$

215,828

$

1,696,714

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

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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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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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