Copart Exceeds Q1 2026 Earnings Estimates as Revenue Reaches $1.16 Billion
Copart, Inc. (NASDAQ:CPRT) reported first-quarter 2026 financial results on Nov. 21, 2025, exceeding earnings per share estimates. The company posted revenue of $1.16 billion for the quarter. This marks a strong financial performance despite recent analyst price target adjustments.
Copart's gross profit increased by 4.9% to $537 million. The company's gross margin improved by 184 basis points to 46.5%, indicating efficient cost management. Excluding catastrophic events, revenue saw a 2.9% increase.
The vehicle remarketing services provider reported earnings per share of $0.41, surpassing the Zacks Consensus Estimate. This represents a +2.50% earnings surprise. Global insurance average selling prices rose 6.8%, with U.S. insurance ASPs up 8.4%.
While global units sold decreased by 6.7%, Copart continued strategic investments. The company's Purple Wave platform experienced gross transaction value growth exceeding 10%. Copart's U.S. Non-Insurance business also saw a 5.3% increase in dealer unit sales.
On Nov. 21, 2025, Barclays analyst John Babcock set a price target of $33 for Copart, below its trading price of $41.02 at the time. This valuation outlook contrasts with the company's recent operational performance and growth initiatives. Copart operates as a leading provider of online vehicle auction and remarketing services.
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