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Sentiment · FY2026 Q3
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Jash Patwa | JPMorgan | 16 (6%) |
| Bob Labick | CJS Securities | 14 (7%) |
| Bret Jordan | Jefferies | 11 (9%) |
| Craig Kennison | Robert W. Baird | 11 (9%) |
| Chris Bottiglieri | BNP Paribas | 10 (20%) |
| John Healy | Northcoast Research | 8 (13%) |
| Jeff Lick | Stephens | 7 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 16 (6%) |
| CJS Securities | 1 | 14 (7%) |
| Robert W. Baird | 2 | 12 (8%) |
| Jefferies | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.07B | +7.2% | $0.33 | -8.3% | 43.3% | 33.6% | 30.2% | $301M |
| FY2025 Q1 | $1.15B | +12.4% | $0.37 | +8.8% | 44.7% | 35.4% | 31.6% | $246M |
| FY2025 Q2 | $1.16B | +14.0% | $0.40 |
| 11 (9%) |
| BNP Paribas | 1 | 10 (20%) |
| Northcoast Research | 1 | 8 (13%) |
| Stephens | 1 | 7 (0%) |
| +21.2% |
| 45.2% |
| 36.6% |
| 33.3% |
| $61M |
| FY2025 Q3 | $1.21B | +7.5% | $0.42 | +7.7% | 45.6% | 37.3% | 33.6% | $573M |
| FY2025 Q4 | $1.13B | +5.2% | $0.41 | +24.2% | 45.3% | 36.7% | 35.2% | $351M |
| FY2026 Q1 | $1.16B | +0.7% | $0.41 | +10.8% | 46.5% | 37.3% | 35.0% | $427M |
| FY2026 Q2 | $1.12B | -3.6% | $0.36 | -10.0% | 43.9% | 34.7% | 31.3% | $58M |
| FY2026 Q3 | $1.24B | +2.1% | $0.43 | +2.4% | 46.3% | 37.5% | 32.5% | $503M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Copart reported Q2 consolidated revenue declining 3.6% year-over-year to $1.12 billion, with earnings per diluted share decreasing 9.2% to $0.36. Operating income declined 8.8% to $388.7 million, partly impacted by a $6.8 million one-time international VAT accrual. Insurance volume headwinds persisted while total loss frequency reached 24.2%. The company initiated a share buyback program with $500 million deployed and deployed AI at scale, though the revenue impact remained unclear.
Demand | Competitive Dynamics | Innovation & R&D | Capex Investment | Pricing | Macroeconomic | Margin | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 5 | 6 | 1 | 2 | 1 | 1 | 1 | |
| 2025Q2 | 2 | 5 | 2 | 2 | 1 | 2 | ||
| 2025Q3 | 5 | 3 | 2 | 1 | 1 | 1 | ||
| 2025Q4 | 8 | 4 | 4 | 1 | 2 | 1 | 2 | |
| 2026Q1 | 8 | 5 | 1 | 1 | 3 | 2 | 1 | 1 |
| 2026Q2 | 6 | 5 | 2 | 1 | 1 | 2 | 2 | 1 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|
| Demand | 5 | 2 | 5 | 8 | 8 | 6 |
| Competitive Dynamics | 6 | 5 | 3 | 4 | 5 | 5 |
| Innovation & R&D | 1 | 2 | 4 | 1 | 2 | |
| Capex Investment | 2 | 2 | 2 | 1 | 1 | |
| Pricing | 1 | 1 | 1 | 1 | 3 | 1 |
| Macroeconomic | 1 | 1 | 2 | 2 | 2 | |
| Margin | 2 | 1 | 1 | 1 | 2 | |
| Capital Allocation | 1 | 2 | 1 | 1 |
What CPRT and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“industry-wide vehicle values have normalized somewhat from the elevated levels we observed during supply constrained -- supply chain constrained period of 2021 and 2022 as evidenced by Manheim indices and otherwise.”
Copart cites the Manheim indices as the industry benchmark evidencing that used-vehicle values have normalized from their 2021-2022 highs.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CPRT Copart | 3 | -3.6% | |
| CVNA Carvana Co. | 8 | +52.0% |