Copart Inc reported fourth-quarter consolidated revenue of $1.2 billion, up 2.4% year over year, with diluted EPS of $0.35, down 14.6%, as the company agreed to acquire ACV, a leading digital automotive marketplace, in an all-cash transaction funded from cash on hand with no financing conditions. The ACV deal is expected to be breakeven in the current year and accretive in the first full year, which CFO Leah Stearns identified as FY28 given uncertainty around the closing date, and is expected to close by the end of the calendar year. For the full fiscal year, revenue was $4.7 billion, up 0.4%, or up 2.4% excluding FY25 CAT events, while net income attributable to Copart fell 4.4% to $1.48 billion and diluted EPS came in at $1.55. Total loss frequency reached a record 23.3% in Q2 2026, up from 22.4% last year, driven by increasing vehicle complexity and repair costs, though global unit sales declined 2.9% in Q4 with US insurance units down 7.5% and global insurance units down 4.2%. The international segment showed momentum with Q4 revenue up 11.7% to $222.1 million and units sold up 10%, and all international markets are now profitable, while Copart ended the period with roughly $5.7 billion in total liquidity, comprising $4.5 billion in cash, cash equivalents and held-to-maturity securities plus $1.25 billion in revolving credit capacity with no debt outstanding, after deploying $1.63 billion into share repurchases earlier in the fiscal year.
Copart IncQ4 revenue rose 2.4% but EPS fell 14.6% and net income declined, alongside the ACV acquisition and $1.63B in buybacks.
ACV Auctions Inc.Copart agreed to acquire ACV in an all-cash deal expected to be accretive in the first full year (FY28).
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