Copart, Inc. (CPRT) Reinforces Financial Flexibility Amid Steady Operating Performance

Copart Inc. (NASDAQ: CPRT) is one of the best used-car stocks to buy, according to hedge funds. On January 26, Copart Inc. (NASDAQ:CPRT) entered into a new $1.25 billion unsecured senior revolving credit agreement. The agreement is to replace a previous credit facility that was terminated and fully repaid .

Interest rates on the new revolving credit facility are based on either a fixed rate plus a margin of 0.75% to $1.125% or a daily rate plus a margin of 0% to 0.125%. The company can request up to two one-year extensions on the new revolving credit facility, which is set to mature on January 23, 20231. Copart Inc. plans to use net proceeds from the facility for general corporate purposes, including working capital, capital expenditures, dividends, acquisitions, and other investments.

The company delivered solid first-quarter fiscal 2026 results, with revenue up 0.7% year over year to $1.16 billion and gross profit of $537 million. Net income was up 11.5% to $403.7 million, leading to diluted earnings per share of $0.41, up from $0.37 a year earlier.

Copart, Inc. (NASDAQ:CPRT) is a global leader in online vehicle auctions and remarketing services, specializing in the sale of used, wholesale, and salvage title vehicles. The company connects sellers—primarily insurance companies, dealers, and fleets—with buyers like dismantlers and body shops via its proprietary VB3 digital auction platform.

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Disclosure: None. This article is originally published at Insider Monkey.