Equity Profile

CPRT

Copart, Inc.

IndustrialsDiversified Support Services$28.7B

Sep3Thu

Pre-Earnings Brief

UpcomingQ4-2026After Close5:00 PM EDT

Company Snapshot

Copart, Inc. operates in the industrial sector, providing diversified support services primarily in the vehicle auction and salvage 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.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and increase sales, which is crucial 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. operates in the industrial sector, providing diversified support services primarily in the vehicle auction and salvage industry. The company plays a vital role in the automotive market by facilitating the sale of vehicles that are damaged or no longer needed, which is increasingly relevant as consumer behavior shifts towards sustainability and recycling.

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, surpassing estimates by nearly 5%. However, revenue figures were not disclosed, leaving some uncertainty about overall performance.

Management Promises & Guidance

Focus on expanding auction services and enhancing technology for better user experience.
Commitment to maintaining operational efficiency and cost management.
Plans to explore new markets and increase vehicle acquisition.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Copart's upcoming earnings, given its strong historical performance and recent EPS beats.

Bull Case

If Copart continues its trend of beating EPS estimates, it could signal robust operational strength and market demand, leading to a positive stock reaction.

Bear Case

Conversely, any signs of declining auction volumes or revenue could raise concerns about market saturation and competitive pressures, negatively impacting the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the auction volume figures indicate about market demand?

Auction volume is a critical metric for assessing the company's operational performance and market position, especially in a fluctuating economy.

How does management plan to address any potential revenue shortfalls?

Understanding management's strategy for maintaining revenue growth is essential for gauging future performance and investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of Copart's recent technological investments on auction efficiency, which could lead to better-than-expected performance.

Supporting Evidence

The company has a strong track record of beating EPS estimates, suggesting operational resilience.

Options pricing indicates a significant move, which may reflect underlying confidence not captured in consensus estimates.

Key Risk

If auction volumes exceed expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the sustainability of auction volumes and revenue growth in a competitive landscape.

Bull Confirmed If

A significant increase in auction volume, indicating strong demand, would confirm the bullish outlook.

Bear Confirmed If

A decline in auction volume or negative commentary on market conditions would support the bearish case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.04%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect notable 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

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$869,723.91

26,213 sh

1 insider

Net

$869,723.91

Net selling

Most Active Insiders· 2 open-market trades

Chief Executive OfficerLiaw Jeffrey
$869,723.91

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 strong operational performance.

In-Line / Cautious

If results are in line with expectations but management's commentary is cautious, the stock may experience muted movement as investors reassess future growth.

Miss

Should the company miss estimates, history suggests a potential decline of about -0.57%, raising concerns about market demand and operational efficiency.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on auction volume trends and how they compare to previous quarters.
2Any insights into new market expansions or technological advancements.
3Management's commentary on cost management strategies and operational efficiencies.
4Details on customer acquisition and retention strategies.
5Responses to competitive pressures in the auction market.

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Company Snapshot

Copart, Inc. operates in the industrial sector, providing diversified support services primarily in the vehicle auction and salvage 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.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its market presence and increase sales, which is crucial 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, surpassing estimates by nearly 5%. However, revenue figures were not disclosed, leaving some uncertainty about overall performance.

Management Promises & Guidance

Focus on expanding auction services and enhancing technology for better user experience.
Commitment to maintaining operational efficiency and cost management.
Plans to explore new markets and increase vehicle acquisition.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Copart's upcoming earnings, given its strong historical performance and recent EPS beats.

Bull Case

If Copart continues its trend of beating EPS estimates, it could signal robust operational strength and market demand, leading to a positive stock reaction.

Bear Case

Conversely, any signs of declining auction volumes or revenue could raise concerns about market saturation and competitive pressures, negatively impacting the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the auction volume figures indicate about market demand?

Auction volume is a critical metric for assessing the company's operational performance and market position, especially in a fluctuating economy.

How does management plan to address any potential revenue shortfalls?

Understanding management's strategy for maintaining revenue growth is essential for gauging future performance and investor confidence.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the impact of Copart's recent technological investments on auction efficiency, which could lead to better-than-expected performance.

Supporting Evidence

The company has a strong track record of beating EPS estimates, suggesting operational resilience.

Options pricing indicates a significant move, which may reflect underlying confidence not captured in consensus estimates.

Key Risk

If auction volumes exceed expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the sustainability of auction volumes and revenue growth in a competitive landscape.

Bull Confirmed If

A significant increase in auction volume, indicating strong demand, would confirm the bullish outlook.

Bear Confirmed If

A decline in auction volume or negative commentary on market conditions would support the bearish case.

Pre-Earnings Positioning

Options Market

Implied Move

±15.04%

Historical Avg

±2.0%

Pricing rich

The options market is pricing in a significant potential move, suggesting that traders expect notable 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

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$869,723.91

26,213 sh

1 insider

Net

$869,723.91

Net selling

Most Active Insiders· 2 open-market trades

Chief Executive OfficerLiaw Jeffrey
$869,723.91

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 strong operational performance.

In-Line / Cautious

If results are in line with expectations but management's commentary is cautious, the stock may experience muted movement as investors reassess future growth.

Miss

Should the company miss estimates, history suggests a potential decline of about -0.57%, raising concerns about market demand and operational efficiency.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on auction volume trends and how they compare to previous quarters.
2Any insights into new market expansions or technological advancements.
3Management's commentary on cost management strategies and operational efficiencies.
4Details on customer acquisition and retention strategies.
5Responses to competitive pressures in the auction market.