Copart's stock fell 6% in pre-market trading following the release of its second-quarter fiscal 2026 financial results.
The online vehicle auction operator reported quarterly earnings of $0.36 per share, missing analyst expectations of around $0.39 to $0.40 per share. Revenue of $1.12 billion also fell short of estimates, which were approximately $1.14 billion to $1.15 billion.
The company attributed the decline to lower vehicle sales and service volumes. Growth in vehicle volumes has softened as insurance companies retain more cars and consumers reduce auto insurance coverage amid ongoing inflationary pressures.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments