Copart, Inc. · CPRT · FY2024 Q3 · Calendar Q2 2024
Copart grows volumes while investing in capacity and technology
Copart's current analysis supports a constructive operating picture: salvage and non-insurance volumes grew, international participation helped gross profit, and management continued investing in capacity and technology. The key test is whether volume growth and total-loss trends offset pressure from used-car values, operating costs, mix and execution risks.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Relative to the prior-quarter analysis, the current analysis shows stronger reported revenue and net-income growth, 6.8% insurance-volume growth and about 19% U.S. non-insurance growth. The focus also broadened toward Purple Wave consolidation, AI/ML tools and expanded catastrophe-response capacity, while concerns shifted toward used-car values, ASP durability, G&A growth and international mix.
Guidance delta
No formal guidance sentiment was provided in the supplied analysis; management emphasized continued capacity, technology, Purple Wave and catastrophic-response investment.
Key takeaways
- Revenue grew 10% year over year to $1.13 billion and GAAP net income rose 9% to $382 million.
- Insurance volume increased 6.8% year over year as total-loss frequency continued rising.
- U.S. non-insurance volume grew about 19% year over year, led by dealer and rental activity.
- International buyers and higher-margin purchase units supported gross profit, particularly in Germany.
- Capex remained focused on real estate, fleet and technology, with liquidity described as robust.
Management priorities
- Expand real-estate footprint and yard infrastructure.
- Invest in technology platforms and AI/ML tools for insurance and auction processes.
- Grow Purple Wave geographically and broaden its seller base.
- Strengthen catastrophic-response teams, fleet and logistics capabilities.
- Improve dealer-unit inspection and arbitration services.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BNP Paribas | Outperform | Outperform | Maintain | Sep 28, 2026 |
| HSBC | Hold | Buy | Downgrade | Sep 17, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Sep 14, 2026 |
| Barrington Research | Outperform | Market Perform | Upgrade | Sep 11, 2026 |
| Baird | Outperform | Outperform | Maintain | Sep 11, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Sep 3, 2026 |
| Barclays | Underweight | Underweight | Maintain | Aug 26, 2026 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Aug 20, 2026 |
| HSBC Securities | Buy | Hold | Upgrade | Sep 4, 2025 |
| Argus | Hold | Buy | Downgrade | Mar 14, 2025 |
| Northcoast Research | Neutral | Buy | Downgrade | May 1, 2023 |
| Guggenheim | Buy | Buy | Maintain | Feb 22, 2023 |
| Truist Securities | Buy | Buy | Maintain | May 21, 2021 |
| Jefferies | Buy | Buy | Maintain | May 22, 2020 |
| CFRA | Hold | Hold | Maintain | May 21, 2020 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | May 18, 2020 |
| Gabelli & Co. | Buy | Hold | Upgrade | Sep 20, 2018 |
| Susquehanna | Neutral | Neutral | Maintain | Aug 25, 2016 |
| Bank of America | Neutral | Buy | Downgrade | Mar 21, 2016 |
| B of A Securities | Neutral | Buy | Downgrade | Mar 21, 2016 |
| CL King | Neutral | Sell | Upgrade | Feb 25, 2016 |
| BB&T Capital | Buy | Hold | Upgrade | Nov 26, 2013 |
| CJS Securities | Market Outperform | Market Perform | Upgrade | Sep 26, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $29. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| HSBC | Analyst unavailable | $36 | $30.82 | +24.1% | Sep 16, 2026 |
| Barrington | Gary Prestopino | $40 | $30.75 | +37.9% | Sep 11, 2026 |
| Robert W. Baird | Analyst unavailable | $38 | $30.75 | +31.0% | Sep 11, 2026 |
| Deutsche Bank | Analyst unavailable | $40 | $32.16 | +37.9% | Sep 3, 2026 |
| Barclays | Analyst unavailable | $25 | $33.33 | -13.8% | Aug 26, 2026 |
| Barclays | Analyst unavailable | $26 | $27.04 | -10.3% | Jul 21, 2026 |
| Jefferies | Analyst unavailable | $45 | $33.79 | +55.2% | May 22, 2026 |
| Robert W. Baird | Analyst unavailable | $48 | $37.65 | +65.5% | Feb 20, 2026 |
| Robert W. Baird | Analyst unavailable | $52 | $40.06 | +79.3% | Nov 21, 2025 |
| Barclays | John Babcock | $33 | $41.02 | +13.8% | Nov 21, 2025 |
| Barclays | Analyst unavailable | $32 | $41.34 | +10.3% | Nov 11, 2025 |
| HSBC | Wesley Brooks | $62 | $48.12 | +113.8% | Sep 4, 2025 |
| Jefferies | Bret Jordan | $63 | $54.58 | +117.2% | May 17, 2024 |
| J.P. Morgan | Analyst unavailable | $33 | $15.64 | +13.8% | Jan 13, 2023 |
| Stephens | Analyst unavailable | $18.5 | $16.04 | -36.2% | Nov 18, 2022 |
| Raymond James | Savanthi Syth | $27.5 | $30.35 | -5.2% | Apr 13, 2022 |
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Start freeCompany context
Snapshot as of publicationCopart, Inc. stands as a prominent global provider of online vehicle auctions and comprehensive vehicle remarketing services. The company extends its operations across numerous international markets, including the United States, the United Kingdom, Germany, Brazil, Canada, the United Arab Emirates, Spain, Finland, Oman, the Republic of Ireland, and Bahrain. At its core, Copart enables the buying and selling of vehicles over the internet through its sophisticated "virtual bidding" online auction platform. Its extensive range of services supports the entire vehicle disposition process, encompassing aspects such as direct online access for sellers, expert salvage and general vehicle valuation, end-of-life vehicle handling, logistics and transportation management, and dedicated vehicle inspection facilities.…
Historical context
All CPRT earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FIX Comfort Systems USA, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.2% | -8.5% | Comfort Systems USA: Strong Growth, Record Backlog, Margin Watchpoints |
| BE Bloom Energy Corporation | FY2026 Q3 · Calendar Q4 2026 | +36.0% | -8.7% | Bloom Energy Raises Outlook as AI Power Demand Drives Expansion |
| SNA Snap-on Incorporated | FY2026 Q3 · Calendar Q4 2026 | -5.9% | -3.4% | Snap-on: C&I strength offsets organic sales pressure in Q3 |
| HON Honeywell International Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.6% | +1.7% | Honeywell Raises 2026 Outlook as Backlog and Forge Support Growth |
| LMT Lockheed Martin Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.0% | +7.0% | Lockheed Martin: backlog and guidance rise, with execution risks |
| NSC Norfolk Southern Corporation | FY2026 Q3 · Calendar Q4 2026 | +4.6% | +3.1% | Norfolk Southern posts strong Q3 as capex outlook rises |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-25T04:20:52.826439+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T04:20:52.823160+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.