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 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

KAR Auction Services reports solid financial performance and digital growth

KAR Auction Services delivered strong financial performance in Q4 and full-year 2022, driven by revenue growth and strategic focus on digital channels. While facing challenges like lower conversion rates and cautious AFC growth, the company is well-positioned to capitalize on opportunities in the market.

KAR Auction Services excels in Q1, eyes digital growth opportunities

KAR Auction Services demonstrated strong financial performance in Q1, driven by revenue growth, improved gross profit, and cost management initiatives.
The company's focus on digital marketplace strategy, consolidation, and efficiency under the OPENLANE brand positions it for future growth.
Challenges include plateauing market pricing, scarce off-lease volumes, and the need for digital transformation in repo vehicle sales.
Opportunities lie in expanding market reach through digital platforms, improving conversion rates, and driving growth in both AFC and marketplace businesses.

KAR Auction Services reports strong Q2 performance and eyes future growth opportunities

KAR Auction Services' Q2 2023 earnings call reflects robust financial performance, progress in strategic initiatives, and a positive outlook for future growth.
While facing challenges such as one-time expenses and market dynamics, the company's strengths in innovation, cost management, and liquidity position it well for opportunities ahead.
With a focus on marketplace expansion, scalable operations, and leveraging industry trends, KAR Auction Services demonstrates resilience and readiness for future market developments.

KAR Auction Services reports solid Q3 results and eyes global expansion

OPENLANE's Q3 performance reflects growth in transaction volumes, revenue, and profitability. Strong dealer response, consolidation efforts, and positive industry outlook position KAR for continued success. Mitigating risks, optimizing unit economics, and leveraging digital models are key focus areas for sustained growth.

KAR Auction Services excels in Q4 2023 despite Canadian challenges

KAR Auction Services showcased robust financial performance and strategic advancements in Q4 2023, with a focus on innovation and customer experience.
While facing challenges in Canada and the Finance segment, the company is well-positioned to capitalize on growth opportunities in the marketplace business.
Overall, KAR Auction Services remains optimistic about its outlook, emphasizing the potential for improved performance and customer satisfaction.

KAR Auction Services excels in Q1 2024, eyes growth opportunities

KAR Auction Services demonstrated strong financial performance and strategic growth initiatives in Q1 2024, with a focus on customer experience and innovation.
Challenges in dealer volume growth and equity in off-lease vehicles were addressed through network expansion and customer-centric initiatives.
Opportunities lie in the rebounding leasing market, potential off-lease vehicle volumes, and continued focus on organic investments and shareholder returns.
The company's performance highlights its resilience and adaptability in navigating market challenges while capitalizing on growth opportunities.

KAR Auction Services reports resilient Q2 performance and growth opportunities

KAR Auction Services delivered a solid performance in Q2 2024, maintaining strong cash flow generation and focusing on market share growth.
Despite challenges in gross profit decline and revenue generation in certain segments, the company's strategic investments position it well for future growth.
Opportunities in leveraging marketplace growth, enhancing customer experience, and driving innovation highlight a positive outlook for KAR Auction Services.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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. , Oct. 18, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its third quarter 2023 financial results after the market closes on Wednesday, November 1, 2023.

OPENLANE to Announce Third Quarter 2023 Earnings

OPENLANE, a used car auction marketplace, is performing well despite a decline in the used vehicle market. Revenue for OPENLANE has increased, but profits have decreased due to impairments and other costs. The outlook for the company, both today and in the longer run, looks appealing and shares are cheap enough to warrant upside.

Openlane: Looking Good Under The Hood

OPENLANE, Inc. (NYSE:KAR ) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET Company Participants Mike Eliason - Treasurer and VP, IR Peter Kelly - CEO Brad Lakhia - EVP and CFO Conference Call Participants Rajat Gupta - JPMorgan John Murphy - Bank of America Bob Labick - CJS Securities Bret Jordan - Jefferies Daniel Imbro - Stephens Operator Good morning, and welcome to the OPENLANE Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode.

OPENLANE, Inc. (KAR) Q2 2023 Earnings Call Transcript

OPENLANE (KAR) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to loss of $0.04 per share a year ago.

OPENLANE (KAR) Beats Q2 Earnings Estimates

CARMEL, Ind. , Aug. 2, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), today reported its second quarter financial results for the period ended June 30, 2023.

OPENLANE, Inc. Reports Second Quarter 2023 Financial Results

OPENLANE (KAR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

OPENLANE (KAR) Earnings Expected to Grow: Should You Buy?

CARMEL, Ind. , July 20, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its second quarter 2023 financial results after the market closes on Wednesday, August 2, 2023.

OPENLANE to Announce Second Quarter 2023 Earnings

New OPENLANE Canada Expands Reach and Access While Simplifying Buying and Selling Experience CARMEL, Ind. , June 20, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the integration of ADESA Canada and TradeRev into the all-new consolidated OPENLANE Canada marketplace.

OPENLANE Combines Best of ADESA Canada and TradeRev in Unified Canadian Marketplace

CARMEL, Ind. , June 2, 2023 /PRNewswire/ -- OPENLANE, Inc. (f/k/a KAR Auction Services, Inc.) (NYSE: KAR) (the "Company"), today announced the results of its previously announced offer to purchase (the "Asset Sale Offer") up to $140,000,000 of its 5.125% Senior Notes due 2025 (the "Notes") for cash at a price equal to 100% of the principal amount of the Notes, equivalent to $1,000 per $1,000 principal amount of Notes, plus accrued and unpaid interest, if any, for such Notes up to, but not including, June 2, 2023.

OPENLANE Announces Results of Offer to Purchase Certain of its Outstanding 5.125% Senior Notes due 2025

KAR Auction Services, Inc. (NYSE:KAR ) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET Company Participants Mike Eliason - Treasurer and Vice President, Investor Relations Peter Kelly - Chief Executive Officer Scott Anderson - Interim Chief Financial Officer Conference Call Participants Rajat Gupta - J.P. Morgan Craig Kennison - Baird Gary Prestopino - Barrington Research Pete Lucas - CJS Securities Bret Jordan - Jefferies Daniel Imbro - Stephens Inc. Operator Good morning, and welcome to the KAR Auction Services, Inc. 2023 First Quarter Earnings Call.

KAR Auction Services, Inc. (KAR) Q1 2023 Earnings Call Transcript

CARMEL, Ind. , May 3, 2023 /PRNewswire/ -- KAR Auction Services, Inc. (to be renamed OPENLANE, Inc.), d/b/a KAR Global (NYSE: KAR) (the "Company"), today announced that it has commenced an offer to purchase for cash (the "Asset Disposition Offer") up to $140,000,000 of its 5.125% Senior Notes due 2025 (the "Notes"), with a portion of the net cash proceeds received from its previously announced sale of its US physical auction business to Carvana.

KAR Global Commences Offer to Purchase Certain of Its Outstanding 5.125% Senior Notes Due 2025

KAR Auction Services (KAR) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to loss of $0.02 per share a year ago.

KAR Auction Services (KAR) Q1 Earnings and Revenues Surpass Estimates

New Brand to Unite Marketplace Brands and Simplify Customer Experience CARMEL, Ind. , May 2, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR) announces it is rebranding to OPENLANE.

KAR Global to Rebrand as OPENLANE

Total revenue increased 14% year-over-year Significant increases in operating profit and income from continuing operations Adjusted EBITDA increased 20% year-over-year CARMEL, Ind. , May 2, 2023 /PRNewswire/ --KAR Auction Services, Inc. (NYSE: KAR), today reported its first quarter financial results for the period ended March 31, 2023.

KAR Auction Services, Inc. Reports First Quarter 2023 Financial Results

Amazon

Copart

Lamb Weston Hlds

McDonald's

Netflix

Peloton

Sherwin-Williams

SPDR S&P 500 ETF Trust

Tesla

Vanguard Total World Stock ETF

Vanguard Total Stock Market ETF

"A company that does boring things is almost as good as a company that has a boring name, and both together is terrific." -- Peter Lynch

For Investors, Boring Can Be Wonderful

CARMEL, Ind. , April 19, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2023 financial results after the market closes on Tuesday, May 2, 2023.

KAR Auction Services, Inc. to Announce First Quarter 2023 Earnings

Peter Kelly to Continue as CEO, Michael Kestner Named Chairman of the Board CARMEL, Ind. , March 31, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the retirement of executive chairman Jim Hallett.

KAR Global Announces Retirement of Executive Chairman Jim Hallett

KAR Auction Services, Inc. (NYSE:KAR ) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET Company Participants Mike Eliason - Treasurer & VP IR Peter Kelly - CEO Scott Anderson - CFO Conference Call Participants John Murphy - Bank of America Rajat Gupta - JP Morgan Gary Prestopino - Barrington Research Peter Lucas - CJS Securities Operator Good morning and welcome to the KAR Auction Services Inc. 2022 Year End Earnings Conference Call. All participants will be in a listen-only mode [Operator Instructions].

KAR Auction Services, Inc. (KAR) Q4 2022 Earnings Call Transcript

KAR Auction Services (KAR) delivered earnings and revenue surprises of 83.33% and 3.16%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

KAR Auction Services (KAR) Q4 Earnings and Revenues Surpass Estimates

Total revenue and gross profit increased for the quarter and year Cost actions completed on schedule and contributed to a reduction in fourth quarter selling, general and administrative expenses Completed consolidation of U.S. dealer-to-dealer marketplaces and migrated European marketplace technology onto a single platform Over $1.5 billion of corporate debt repaid and 12.6 million shares of common stock repurchased and retired for approximately $182 million in 2022 CARMEL, Ind. , Feb. 21, 2023 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2022.

KAR Auction Services, Inc. Reports 2022 Financial Results

CARMEL, Ind. , Feb. 8, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter and full year 2022 financial results after the market closes on Tuesday, February 21, 2023.

KAR Auction Services, Inc. to Announce Fourth Quarter and Full Year 2022 Earnings

CARMEL, Ind. , Jan. 23, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a/ KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the integration of CARWAVE and BacklotCars.

Integration of BacklotCars and CARWAVE Provides Dealers the Best of Both Offerings

KAR Auction Services has posted some promising financial data as of late, with sales, profits, and cash flows all improving year-over-year. There have been some signs of pain recently, and that trend will likely worsen from here.

KAR Auction Services: Cheap Enough To Be Worth The Risk

CARMEL, Ind. , Nov. 10, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, today announced its participation in the following investor conference: Stephens Annual Investment Conference    KAR's Vice President Investor Relations, Mike Eliason and Chief Accounting Officer, Scott Anderson will be participating on Thursday, November 17, 2022 at 11am ET.

KAR Global Announces Participation in Upcoming Investor Conference

Advanced Micro Devices

Chegg

Cirrus Logic

Huron Consulting Group

TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including AMD & Chegg

News for KAR Auction Services Stock (KAR)