CPRT news

Copart has closed the acquisition of ACV Auctions for $10.50 per share via a cash tender offer and merger, creating an industry-leading vehicle remarketing platform. ACV stock trading ceased as it integrates as an independent Copart subsidiary led by its existing leadership.

Copart reported a 2.4% increase in Q1 FY26 revenue to $1.2 billion but faced a 14.6% decline in EPS to $0.35, likely due to reduced gross margins. The company will hold a conference call on September 10, 2026, to discuss results and future strategy.

Copart named Managing Director Jane Pocock as its new President to lead global operations. The appointment solidifies leadership as Jay Adair transitions to Chief Executive Officer.

CarParts.com, Inc. entered into a Loan and Security Agreement dated June 15, 2026 with First Business Specialty Finance, LLC, securing financing against the company's accounts and assets. The agreement provides working capital financing for the automotive parts e-commerce company.

Copart's third quarter revenue increased 2.1% to $1.2 billion while net income declined slightly by 1.0%, though diluted EPS grew 2.4% to $0.43. The online vehicle auction leader maintains steady operational momentum with 250+ global locations serving over 1 million members across 11 countries.

CarParts.com approved a reverse stock split combining every 10 shares into 1 share, effective May 21, 2026. The restructuring is typically used to raise share price and improve compliance with exchange listing standards.