Copart Net Income Slips 9.5% to $350.7M in Q2 Fiscal 2026

Copart Inc. (NASDAQ: CPRT), an online vehicle auction platform, reported net income of $350.7 million for the quarter ending January 31, 2026, down 9.5% from $387.4 million in the same quarter a year earlier. Diluted earnings per share fell to $0.36 from $0.40. Read more earnings reports.

For the six months ending January 31, 2026, net income held steady at $754.4 million compared to $749.5 million in the prior-year period. Diluted earnings per share remained flat at $0.77 for both periods.

Operating income for the most recent quarter declined 8.8% to $388.7 million from $426.2 million, while the six-month operating income dipped 1.6% to $819.4 million from $832.6 million.

Balance Sheet and Cash Position

Total assets climbed to $10.59 billion as of January 31, 2026, up from $10.09 billion at the end of the prior fiscal year on July 31, 2025. The company's cash and restricted cash position surged 83.5% to $5.10 billion from $2.78 billion over the same period.

Accounts receivable grew to $861.6 million from $762.8 million, an increase of 13%. Total liabilities decreased to $787.7 million from $883.4 million.

Cash Flow Activity

Cash from operations for the six months ending January 31, 2026 was $662.8 million, essentially flat compared to $660.4 million in the same period last year. Cash from investing activities totaled $1.86 billion, up from $1.13 billion in the prior-year period. Cash used in financing activities was $205.4 million compared to cash provided of $37.7 million in the prior year.

Share Count

Common shares outstanding declined to 963.3 million as of January 31, 2026 from 967.5 million at the end of the prior fiscal year, a reduction of 0.4%.