Copart's quarterly profit and revenue fall on lower vehicle volumes
19/02/2026 23:42
Feb 19 (Reuters) - Online vehicle auction services provider Copart CPRT.O on Thursday posted a decline in second-quarter profit and revenue due to lower vehicle sales and service volumes. Shares of the company, which primarily provides auction services to sell damaged and total-loss vehicles to used-car dealers and dismantlers, fell more than 10% in aftermarket trading. Growth in the number of vehicles Copart receives continues to soften as the company loses car volume to insurance companies and to consumers skimping on auto insurance amid inflationary pressures. Profit of 36 cents per share for the second quarter ended January 31, 2026, fell from 40 cents a year ago. The Dallas, Texas-based company's quarterly revenue fell 3.6% to $1.12 billion. (Reporting by Apratim Sarkar and Aatreyee Dasgupta in Bengaluru; Editing by Rashmi Aich) ((Apratim.Sarkar@thomsonreuters.com;))