Copart, Inc. Earnings Recaps
Q3 2026
May 22, 2026
Shares rose 4.1% as Copart delivered record-high U.S. insurance average selling prices (ASPs) and demonstrated the resilience of its diverse global buyer base, offsetting modest volume declines in its insurance unit sales.
Key takeaways
- U.S. insurance unit volume declined 4.2% year-over-year, or just over 3% excluding last year’s catastrophe-related units.
- Despite volume softness, U.S. insurance ASPs increased 4.1% year-over-year, reaching a seasonally adjusted record high for Copart.
- Total loss frequency rose steadily, reaching 23.6% in the first calendar quarter of 2026, up nearly 5 percentage points over four years, supporting auction returns.
- International buyers now represent over one-third of U.S. volumes and nearly half of auction proceeds, highlighting the strength of Copart’s global network.
- Investments in technology and infrastructure continue, supporting broad buyer diversity and high pure sale insurance volume at all-time highs.
Q2 2026
Feb 20, 2026
Copart, Inc. reported a decline in insurance units in Q2 FY2026, primarily driven by shifts in policy coverage and consumer pullback, yet achieved record average selling prices for U.S. consignors.
Key takeaways
- U.S. insurance units declined 10.7% year-over-year; 4.8% excluding catastrophic events.
- Average selling prices for U.S. insurance climbed 6% year-over-year, with a 9% increase when adjusting for catastrophic impacts.
- Strong auction returns and enhanced liquidity continue to attract new sellers to Copart's platform, underpinning long-term competitive advantages.
- Cycle times for vehicle retrieval and sales have improved significantly, driven by Copart's expansive tow network and technological advancements.
- Increased deployment of artificial intelligence is enhancing operational efficiency and decision-making capabilities across the organization.