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.

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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.

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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.

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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?

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.

Why OPENLANE (KAR) Could Beat Earnings Estimates Again

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.

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