COPART INC

Copart, Inc. announced that its Executive Chairman, A. Jayson Adair, will assume the role of Chief Executive Officer and principal executive officer, effective July 31, 2026. He will succeed Jeffrey Liaw, who will step down from his CEO role and resign from the Board on the same date. Mr. Liaw will transition to a Senior Advisor role until July 31, 2027, and will receive a $450,000 lump sum payment, an additional $200,000 during his advisory period, and various equity benefits.

Copart reported Q3 2026 total service revenues and vehicle sales of $1.24 billion, a 2.1% increase year-over-year, with diluted EPS rising to $0.43. Net income attributable to Copart, Inc. slightly decreased to $402.4 million. The company repurchased $1.63 billion of common stock and entered into a new $1.25 billion unsecured revolving credit facility. Additionally, Copart is cooperating with a DOJ investigation into potential money laundering violations.

Copart, Inc. reported its financial results for the third quarter of fiscal year 2026, ending April 30, 2026. The company saw a 2.1% increase in revenue to $1.2 billion and a 3.7% rise in gross profit to $572.6 million for the quarter. However, net income attributable to Copart, Inc. slightly decreased by 1.0% to $402.4 million, while fully diluted earnings per share increased by 2.4% to $0.43. For the nine months ended April 30, 2026, revenue was largely flat at $3.5 billion, and diluted EPS increased by 1.7% to $1.20.