Equity Profile

CPRT

Copart, Inc.

IndustrialsDiversified Support Services$27.2B

Sep3Thu

Pre-Earnings Brief

UpcomingQ4-2026After Close5:00 PM EDT

Company Snapshot

Copart, Inc. is a leading provider of online vehicle auctions, specializing in the resale of salvage and clean title vehicles....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of the company's profitability and how well it is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth will indicate how well Copart is capitalizing on the demand for online vehicle auctions and its market position.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CPRT Q4-2026 Earnings Preview

Context

Company Snapshot

Copart, Inc. is a leading provider of online vehicle auctions, specializing in the resale of salvage and clean title vehicles. As part of the industrials sector, Copart plays a crucial role in the automotive supply chain, particularly as consumer demand for used vehicles remains strong and insurance companies seek efficient ways to dispose of totaled cars.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-0.17%

Avg Stock Reaction

+0.67%

Last Quarter Recap

In the last quarter, Copart reported an EPS of $0.43, exceeding expectations by nearly 5%. The stock reacted positively, gaining over 4% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given Copart's recent performance and the overall demand for used vehicles.

Bull Case

If Copart continues to beat EPS estimates and shows strong revenue growth, it could indicate robust operational efficiency and market demand, leading to a significant stock price increase.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of slowing auction volume, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the auction volume for the quarter?

Auction volume is a direct indicator of demand and operational performance, and any significant change could impact future growth.

How does management view the competitive landscape in online vehicle auctions?

Understanding management's perspective on competition can provide insights into potential market share changes and pricing power.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for auction volume growth due to increasing consumer interest in used vehicles, which could lead to better-than-expected earnings.

Supporting Evidence

Recent trends in used vehicle sales suggest a strong market, which may not be fully reflected in current estimates.

The historical EPS beat rate of 75% indicates that Copart has a track record of outperforming expectations.

Key Risk

If auction volume exceeds expectations significantly, it could lead to a reassessment of growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around the strength of demand in the used vehicle market and Copart's ability to capitalize on it.

Bull Confirmed If

Auction volume growth of 10% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A decline in auction volume or a significant miss on EPS would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.04%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±15.0% while CPRT has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

22.9%

Calls (31K)P/C Ratio: 0.64Puts (32K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Industrials

n=30

Fade rate: 5 of 24 (21%)

This setup has occurred 30 times across Industrials in the last 2 years. 19 of 24 (79%) held or extended their move within 5 days — this setup typically holds direction. The average absolute 1-day move is 4.6%, with a raw directional average of +1.6% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Copart beats expectations, history suggests a positive stock reaction, potentially around +1.09%, confirming strong operational performance.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors reassess future growth.

Miss

If the company misses expectations, history suggests a potential decline of around -0.57%, indicating investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on auction volume trends and how they compare to previous quarters.
2Management's outlook on the competitive landscape and pricing strategies.
3Insights into operational efficiencies and cost management.
4Comments on consumer demand for used vehicles and market conditions.
5Any guidance on future growth initiatives or strategic plans.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

NIO Inc.

Company Snapshot

Copart, Inc. is a leading provider of online vehicle auctions, specializing in the resale of salvage and clean title vehicles....

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of the company's profitability and how well it is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth will indicate how well Copart is capitalizing on the demand for online vehicle auctions and its market position.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CPRT Q4-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

63%

Avg EPS Surprise

-0.17%

Avg Stock Reaction

+0.67%

Last Quarter Recap

In the last quarter, Copart reported an EPS of $0.43, exceeding expectations by nearly 5%. The stock reacted positively, gaining over 4% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of the earnings report, given Copart's recent performance and the overall demand for used vehicles.

Bull Case

If Copart continues to beat EPS estimates and shows strong revenue growth, it could indicate robust operational efficiency and market demand, leading to a significant stock price increase.

Bear Case

Conversely, if the company fails to meet expectations or shows signs of slowing auction volume, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the auction volume for the quarter?

Auction volume is a direct indicator of demand and operational performance, and any significant change could impact future growth.

How does management view the competitive landscape in online vehicle auctions?

Understanding management's perspective on competition can provide insights into potential market share changes and pricing power.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for auction volume growth due to increasing consumer interest in used vehicles, which could lead to better-than-expected earnings.

Supporting Evidence

Recent trends in used vehicle sales suggest a strong market, which may not be fully reflected in current estimates.

The historical EPS beat rate of 75% indicates that Copart has a track record of outperforming expectations.

Key Risk

If auction volume exceeds expectations significantly, it could lead to a reassessment of growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis this quarter revolves around the strength of demand in the used vehicle market and Copart's ability to capitalize on it.

Bull Confirmed If

Auction volume growth of 10% or more compared to the previous quarter would confirm the bull case.

Bear Confirmed If

A decline in auction volume or a significant miss on EPS would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.04%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±15.0% while CPRT has averaged ±2.0% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

22.9%

Calls (31K)P/C Ratio: 0.64Puts (32K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Industrials

n=30

Fade rate: 5 of 24 (21%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Copart beats expectations, history suggests a positive stock reaction, potentially around +1.09%, confirming strong operational performance.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors reassess future growth.

Miss

If the company misses expectations, history suggests a potential decline of around -0.57%, indicating investor disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on auction volume trends and how they compare to previous quarters.
2Management's outlook on the competitive landscape and pricing strategies.
3Insights into operational efficiencies and cost management.
4Comments on consumer demand for used vehicles and market conditions.
5Any guidance on future growth initiatives or strategic plans.