Copart, Inc. (NASDAQ: CPRT), a market leader in online vehicle auctioning, has reported an increase in sales and net income for the first quarter of fiscal 2026.
- Total service revenues and vehicle sales increased modestly to $1.16 billion in Q1 from $1.15 billion in the prior-year quarter
- Net income attributable to the company rose to $403.7 million or $0.41 per share from $362.1 million or $0.37 per share last year
- First-quarter gross profit increased about 5% to $537 million from $512 million in the year-ago quarter
- Operating income was $430.7 million in the October quarter, vs. $512.1 million in Q1 2025
- Q1 operating expenses declined 2.2% to $724.3 million from $740.5 million last year
- Service revenue and vehicle sales increased by 0.6% and 1.7%, respectively, from the year-ago quarter
- Net cash provided by operating activities was $535.3 million in Q1, vs. $482.3 million last year