KAR Auction Services

KAR Auction Services, Inc. engages in the provision of used car auction services and salvage auction services in North America and the United Kingdom. It operates through the following segments: ADESA Auctions and Automotive Finance Corporation (AFC). The ADESA segment provides whole car auctions and related services to the vehicle remarketing industry in North America. The AFC segment provides floor plan financing to used vehicle dealers. The company was founded on November 9, 2006 and is headquartered in Carmel, IN.

Earnings data Q1 2024

OPENLANE, Inc. reports robust Q1 performance and rebrands for digital marketplace vision

OPENLANE, Inc. (formerly KAR Global) reported strong Q1 2023 performance, with revenue reaching $421 million and double-digit growth in key financial metrics. The rebranding to OPENLANE reflects a strategic vision for the digital marketplace. Challenges include pricing plateau and normalization of off-lease vehicle sales, while opportunities lie in digital channel growth and commercial volume recovery.

KAR reports strong Q2 performance, anticipates industry rebound and growth

KAR's Q2 performance reflects growth and successful strategic initiatives, but challenges exist in certain segments. The company remains optimistic about industry rebound and expects continued growth in volumes. Opportunities lie in lease originations, dealer inventory, and scalability of the marketplace business.

OPENLANE reports robust Q3 performance and outlines growth opportunities

OPENLANE's Q3 2023 earnings call highlighted strong financial performance, operational strengths in the Marketplace segment, and successful cost-saving initiatives. Despite challenges in the Finance segment, the company remains confident in its future performance and expressed satisfaction with the quarter's results. The digital model and migration to a consolidated platform present promising growth opportunities for the company.

KAR reports robust Q4 earnings, eyes growth in digital marketplace

KAR's Q4 2023 earnings call highlighted strong financial results, driven by growth in the Marketplace segment and resilience in AFC despite challenges. The company's focus on strategic investments, integration of inventory, and digital marketplace positions it well for future growth and profitability.

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OPENLANE, Inc. provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. The company's end-to-end platform supports whole car, financing, logistics and other ancillary and related services. It operates through the following segments: Marketplace and Finance. The Marketplace segment serves a domestic and international customer base through digital marketplaces and vehicle logistics center locations across Canada. The Finance segment provides short-term, inventory-secured financing, known as floorplan financing, primarily to independent dealer customers throughout the United States and Canada. The company was founded on November 9, 2006 and is headquartered in Carmel, IN.

CARMEL, Ind. , April 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2024 financial results after the market closes on Wednesday, May 1, 2024.

OPENLANE to Announce First Quarter 2024 Earnings

From a technical perspective, OPENLANE, Inc. (KAR) is looking like an interesting pick, as it just reached a key level of support. KAR's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

OPENLANE (KAR) Just Flashed Golden Cross Signal: Do You Buy?

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Investors interested in Automotive - Original Equipment stocks are likely familiar with OPENLANE (KAR) and Mobileye Global (MBLY). But which of these two stocks presents investors with the better value opportunity right now?

KAR vs. MBLY: Which Stock Is the Better Value Option?

Here is how OPENLANE (KAR) and Xos, Inc. (XOS) have performed compared to their sector so far this year.

Are Auto-Tires-Trucks Stocks Lagging OPENLANE, Inc. (KAR) This Year?

CARMEL, Ind. , March 14, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will participate in the BofA Securities Automotive Summit 2024 on Wednesday, Mar. 27, 2024, at 8:50am ET.

OPENLANE Announces Participation in Upcoming Investor Conference

OPENLANE (KAR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

All You Need to Know About OPENLANE (KAR) Rating Upgrade to Strong Buy

Here is how OPENLANE (KAR) and Mercedes-Benz Group AG (MBGAF) have performed compared to their sector so far this year.

Is OPENLANE, Inc. (KAR) Stock Outpacing Its Auto-Tires-Trucks Peers This Year?

Nationwide Search to Identify Successor; EVP and CFO Brad Lakhia to Assume Treasurer Role CARMEL, Ind., Feb. 27, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announced that Mike Eliason, Treasurer and Vice President of Investor Relations, is retiring after more than 25 years at the company, effective June 1, 2024.

OPENLANE Announces Retirement of Mike Eliason, Treasurer and Vice President of Investor Relations

OPENLANE (KAR) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

OPENLANE (KAR) Shows Fast-paced Momentum But Is Still a Bargain Stock

OPENLANE, Inc. (KAR) Q4 2023 Earnings Call Transcript

OPENLANE (KAR) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.33 per share a year ago.

OPENLANE (KAR) Surpasses Q4 Earnings Estimates

CARMEL, Ind. , Feb. 20, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2023.

OPENLANE, Inc. Reports 2023 Financial Results

Incoming President Brings 20 Years of Operational and Strategic Expertise CARMEL, Ind. , Feb. 13, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the promotion of Will Mitchell to president of AFC effective April 1, 2024.

OPENLANE Promotes Will Mitchell to Lead AFC

CARMEL, Ind. , Feb. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter 2023 financial results after the market closes on Tuesday, February 20, 2024.

OPENLANE to Announce Fourth Quarter and Full Year 2023 Earnings

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AI-Powered Tool Strengthens Buyer Confidence and Empowers Smarter, Faster Purchase Decisions CARMEL, Ind. , Jan. 3, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the launch of Visual Boost AI™, new damage detection overlays for every dealer-consigned vehicle in OPENLANE's US marketplace.

OPENLANE Launches Visual Boost AI™ to Pinpoint Vehicle Damage

CARMEL, Ind., Dec. 14, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the upcoming retirement of AFC President Jim Money effective April 1, 2024.

OPENLANE Announces Planned Retirement of AFC President Jim Money

Transaction to Advance Digital Strategy and Growth through Expanded Inventory, Data and Customer Base Acquisition will benefit Canadian buyers and sellers with leading OPENLANE technology and enhanced vehicle availability and visibility beyond local auctions. Commercial and dealer-to-dealer transactions to be hosted on leading OPENLANE Canada digital marketplace and supported by existing nationwide network of OPENLANE vehicle logistics centres.

OPENLANE to Acquire Manheim Canada

New Unified Marketplace Simplifies Buying and Selling While Expanding Reach and Access CARMEL, Ind. , Nov. 20, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the launch of the all-new OPENLANE US digital marketplace.

OPENLANE Launches US Marketplace Combining BacklotCars and Exclusive Off-Lease Inventory

Openlane is given a Buy rating due to its strong performance in the dealer-to-dealer segment, stable operating margins, and undervaluation compared to peers. The company's gross profit margins have improved, driven by higher transportation margins and increased fees for platform services. Openlane reported strong Q3 results with sales growth and resilience in the marketplace segment, although the finance segment saw a decline in adjusted EBITDA.

Openlane: Attractive Valuation Warrants A Buy

The consensus price target hints at a 27.6% upside potential for OPENLANE (KAR). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Predict a 27.6% Upside in OPENLANE (KAR): Here's What You Should Know

CARMEL, Ind. , Nov. 9, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces participation in the following conferences: RBC Global Technology, Internet, Media and Telecommunications Conference on Tuesday, November 14, 2023 at 3:20 p.m.

OPENLANE Announces Participation in Upcoming Investor Conferences

OPENLANE, Inc. (NYSE:KAR ) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Michael Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Craig Kennison - Baird Gary Prestopino - Barrington Research Lee Jagoda - CJS Securities Bret Jordan - Jefferies Rajat Gupta - JPMorgan Daniel Imbro - Stephens Operator Good day, and welcome to the OPENLANE Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note today's event is being recorded.

OPENLANE, Inc. (KAR) Q3 2023 Earnings Call Transcript

CARMEL, Ind. , Nov. 1, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2023.

OPENLANE, Inc. Reports Third Quarter 2023 Financial Results

OPENLANE (KAR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

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