Equity Profile

CPRT

Copart, Inc.

IndustrialsDiversified Support Services$25.4B

Sep3Thu

Pre-Earnings Brief

UpcomingQ4-2026After Close5:00 PM EDT

Company Snapshot

Copart, Inc. is a leading provider of online vehicle auctions and remarketing services, primarily serving the automotive industry....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.43

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and attract more customers, which is vital for long-term success.

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 and remarketing services, primarily serving the automotive industry. As part of the industrials sector, Copart plays a crucial role in the growing trend of online commerce and vehicle recycling, making it relevant in today's market focused on efficiency and sustainability.

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 Q3-2026, Copart reported an EPS of $0.43, beating expectations by nearly 5%. The stock reacted positively, gaining over 4% the following day.

Management Promises & Guidance

Continue to enhance online auction capabilities.
Expand partnerships with insurance companies.
Focus on improving operational efficiency.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Copart's upcoming earnings, especially given its recent EPS beat. However, there are concerns about revenue growth and market competition.

Bull Case

If Copart can show strong auction volume and revenue growth, it could indicate a robust demand for its services, leading to a significant stock price increase.

Bear Case

Conversely, if the company fails to meet EPS expectations or shows signs of declining auction volume, it could lead to a negative reaction from investors.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.43

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its market share and attract more customers, which is vital for long-term success.

Auction Volume

N/A

The number of vehicles sold at auction is a direct measure of Copart's operational performance and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the auction volume be this quarter?

Auction volume is critical as it directly impacts revenue and reflects market demand, which investors will closely watch.

How does management plan to address competition in the online auction space?

Understanding Copart's strategy against competitors will be essential for assessing its future growth potential and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Copart's ability to leverage its online platform for growth, especially as consumer preferences shift towards digital transactions.

Supporting Evidence

Recent auction trends indicate a growing preference for online bidding, which Copart is well-positioned to capitalize on.

The options market suggests a significant move, indicating that investors are anticipating a strong performance.

Copart's historical EPS beat rate of 75% suggests a strong likelihood of exceeding expectations.

Key Risk

If auction volume comes in below expectations, it could undermine the bullish sentiment surrounding Copart's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on Copart's ability to maintain strong auction volumes and profitability in a competitive landscape.

Bull Confirmed If

Auction volume growth of over 10% year-over-year would confirm the bull case.

Bear Confirmed If

A decline in auction volume or failure to meet EPS expectations 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 investors anticipate volatility around the earnings report.

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 potential stock increase of around 1.09%, confirming the company's strong operational performance.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss on EPS could lead to a decline of about 0.57%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on auction volume trends and expectations for the next quarter.
2Management's commentary on competitive pressures in the online auction market.
3Insights into operational efficiencies and cost management strategies.
4Details on partnerships with insurance companies and their impact on growth.
5Any changes in guidance or outlook for the upcoming fiscal year.

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Company Snapshot

Copart, Inc. is a leading provider of online vehicle auctions and remarketing services, primarily serving the automotive industry....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$0.43

Revenue Growth

Revenue growth reflects the company's ability to expand its market share and attract more customers, which is vital for long-term success.

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 Q3-2026, Copart reported an EPS of $0.43, beating expectations by nearly 5%. The stock reacted positively, gaining over 4% the following day.

Management Promises & Guidance

Continue to enhance online auction capabilities.
Expand partnerships with insurance companies.
Focus on improving operational efficiency.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Copart's upcoming earnings, especially given its recent EPS beat. However, there are concerns about revenue growth and market competition.

Bull Case

If Copart can show strong auction volume and revenue growth, it could indicate a robust demand for its services, leading to a significant stock price increase.

Bear Case

Conversely, if the company fails to meet EPS expectations or shows signs of declining auction volume, it could lead to a negative reaction from investors.

Key Metrics to Watch

Earnings Per Share (EPS)

$0.43

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue Growth

N/A

Revenue growth reflects the company's ability to expand its market share and attract more customers, which is vital for long-term success.

Auction Volume

N/A

The number of vehicles sold at auction is a direct measure of Copart's operational performance and market demand.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the auction volume be this quarter?

Auction volume is critical as it directly impacts revenue and reflects market demand, which investors will closely watch.

How does management plan to address competition in the online auction space?

Understanding Copart's strategy against competitors will be essential for assessing its future growth potential and market position.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Copart's ability to leverage its online platform for growth, especially as consumer preferences shift towards digital transactions.

Supporting Evidence

Recent auction trends indicate a growing preference for online bidding, which Copart is well-positioned to capitalize on.

The options market suggests a significant move, indicating that investors are anticipating a strong performance.

Copart's historical EPS beat rate of 75% suggests a strong likelihood of exceeding expectations.

Key Risk

If auction volume comes in below expectations, it could undermine the bullish sentiment surrounding Copart's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on Copart's ability to maintain strong auction volumes and profitability in a competitive landscape.

Bull Confirmed If

Auction volume growth of over 10% year-over-year would confirm the bull case.

Bear Confirmed If

A decline in auction volume or failure to meet EPS expectations 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 investors anticipate volatility around the earnings report.

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 potential stock increase of around 1.09%, confirming the company's strong operational performance.

In-Line / Cautious

If results are in line but management expresses caution, the stock may see muted movement as investors reassess growth prospects.

Miss

A miss on EPS could lead to a decline of about 0.57%, reflecting investor disappointment and concerns about future performance.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on auction volume trends and expectations for the next quarter.
2Management's commentary on competitive pressures in the online auction market.
3Insights into operational efficiencies and cost management strategies.
4Details on partnerships with insurance companies and their impact on growth.
5Any changes in guidance or outlook for the upcoming fiscal year.