Copart's stock experienced a significant after-hours plunge of 11.85% following the release of its second-quarter fiscal 2026 financial results.

The online vehicle auctioneer reported quarterly earnings of $0.36 per share, which missed the analyst consensus estimate of $0.39 to $0.40. Revenue of $1.122 billion also fell short of the $1.144 billion estimate. The results showed a year-over-year decline, with revenue down 3.6%, net income decreasing 9.5%, and earnings per share dropping 10% compared to the same period last year.

Service revenue, a key component, fell 4% year-over-year, contributing to the overall revenue decline. The company did not provide specific guidance for future quarters, which may have added to investor uncertainty following the earnings miss.