Copart (CPRT) Q3 FY26 earnings call

Copart delivered solid Q3 FY26 results, leveraging its diversified global marketplace and strong auction liquidity to achieve record average selling prices and robust international growth. Despite cyclical headwinds impacting U.S. insurance unit volumes and claims frequency, the company's strategic investments in technology and infrastructure, coupled with a broad international buyer base, continue to drive superior auction returns and expand its non-insurance business. Management remains confident in its long-term growth algorithm and capital allocation strategy.