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

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Earnings data Q3 2023

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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.

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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. , Oct. 18, 2022 /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 third quarter 2022 financial results after the market closes on Tuesday, November 1, 2022.

KAR Auction Services, Inc. to Announce Third Quarter 2022 Earnings

KAR Auction Services has undergone a lot of changes lately, the largest being a sizable assets divestiture. The company is now de-risked and looks attractive in most respects, particularly from a debt perspective.

KAR Auction Services: Worth Getting Revved Up Over

CARMEL, Ind. , Aug. 16, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a KAR Global (NYSE: KAR) (the "Company"), today announced early results of its previously announced cash tender offer (the "Tender Offer") to purchase up to $600,000,000 principal amount of its 5.125% Senior Notes due 2025 (CUSIP Nos.

KAR Global Announces Early Results for Cash Tender Offer for Notes

KAR Auction Services, Inc. (NYSE:KAR ) Q2 2022 Earnings Conference Call August 3, 2022 8:30 AM ET Company Participants Mike Eliason - VP, IR & Treasurer Peter Kelly - CEO Eric Loughmiller - CFO Conference Call Participants John Murphy - Bank of America Bob Labick - CJS Securities Bret Jordan - Jefferies Daniel Imbro - Stephens Operator Good morning, and welcome to the Q2 FY2022 Earnings Conference Call of KAR Auction Services, Inc. All participants will be in listen-only mode. [Operator Instructions].

KAR Auction Services' (KAR) CEO Peter Kelly on Q2 2022 Results - Earnings Call Transcript

KAR Auction Services (KAR) delivered earnings and revenue surprises of -150% and 2.05%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

KAR Auction Services (KAR) Reports Q2 Loss, Tops Revenue Estimates

CARMEL, Ind. , Aug. 2, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a KAR Global (NYSE: KAR) (the "Company"), today announced that it commenced a cash tender offer (the "Tender Offer") to purchase its 5.125% Senior Notes due 2025 (CUSIP Nos.

KAR Global Announces Cash Tender Offer for Notes

KAR completed the sale of its ADESA U.S. physical auction business to Carvana and is using the proceeds to reduce debt The company has over $800 million of available cash as of June 30, 2022 The company is concurrently announcing a tender offer to purchase up to $600 million principal amount of senior notes Repurchased $82 million of common stock in the second quarter The company's performance was impacted by reductions in conversion rates across its marketplaces CARMEL, Ind. , Aug. 2, 2022 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE: KAR) today reported its second quarter financial results for the period ended June 30, 2022.

KAR Auction Services, Inc. Reports Second Quarter 2022 Financial Results

CARMEL, Ind. , July 20, 2022 /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 second quarter 2022 financial results after the market closes on Tuesday, August 2, 2022.

KAR Auction Services, Inc. to Announce Second Quarter 2022 Earnings

KAR Auction Services hosted an investor update outlining its updated guidance numbers post-sale of its physical auction business. With secular growth and margin tailwinds intact over the long term and the financing arm also holding up well, there is a lot to be optimistic about.

KAR Auction Services: 'New' KAR On Offer At A Bargain Price

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CARMEL, Ind., May 26, 2022 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will host an Investor Update call on Tuesday, June 14, 2022, at 11:00 a.m.

KAR Auction Services, Inc. to Host Investor Update Call

Turing Holding Corp

Collaboration with Thoughtworks Expands Capabilities, Accuracy and Transparency CARMEL, Ind. and CHICAGO , May 24, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, unveils enhanced condition reports on the company's BacklotCars platform.

KAR Global Launches Enhanced Condition Reports for BacklotCars

CARMEL, Ind. , May 10, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR), a leading provider of digital marketplace solutions for used vehicles, successfully completed its sale of the ADESA U.S. physical auction business to Carvana.

KAR Global Completes Sale of ADESA US Physical Auction Business to Carvana

Carvana

PHOENIX--(BUSINESS WIRE)--Carvana acquires ADESA U.S.'s physical auction business

Carvana Acquires ADESA U.S.'s Physical Auction Business

KAR Auction Services, Inc. (NYSE:KAR ) Q1 2022 Earnings Conference Call May 4, 2022 8:30 AM ET Company Participants Peter Kelly – Chief Executive Officer Michael Eliason – Treasurer and Vice President, Investor Relations Eric Loughmiller – Chief Financial Officer Conference Call Participants Rajat Gupta – JPMorgan Aileen Smith – Bank of America Gary Prestopino – Barrington Research Bret Jordan – Jefferies Bob Labick – CJS Securities Daniel Imbro – Stephens Inc. Ali Faghri – Guggenheim Partners Operator Good morning. Thank you for standing by.

KAR Auction Services, Inc. (KAR) CEO Peter Kelly on Q1 2022 Results - Earnings Call Transcript

KAR Auction Services (KAR) delivered earnings and revenue surprises of -113.33% and 35.64%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

KAR Auction Services (KAR) Reports Q1 Loss, Lags Revenue Estimates

KAR expects to close the transaction selling its ADESA U.S. physical auction business to Carvana, with the proceeds expected to reduce debt KAR reported consistent revenue from continuing operations For the first quarter, gross profit per vehicle sold increased year-over-year to $255 Continued growth in digital dealer-to-dealer volumes were driven by industry-leading platforms, BacklotCars and TradeRev CARMEL, Ind. , May 3, 2022 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE: KAR) today reported its first quarter financial results for the period ended March 31, 2022.

KAR Auction Services, Inc. Reports First Quarter 2022 Financial Results

KAR Auction Services (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 KAR Auction Services (KAR) is Poised to Beat Earnings Estimates Again

KAR Auction Services (KAR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

KAR Auction Services (KAR) Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release

CARMEL, Ind. , April 19, 2022 /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 2022 financial results after the market closes on Tuesday, May 3, 2022.

KAR Auction Services, Inc. to Announce First Quarter 2022 Earnings

KAR stock shot higher after Carvana announced a plan to acquire its physical auction business in an effort to boost sales. The post KAR Stock Alert: What to Know About the Carvana Deal Lifting KAR Auction Services appeared first on InvestorPlace.

KAR Stock Alert: What to Know About the Carvana Deal Lifting KAR Auction Services

CARMEL, Ind., Feb. 24, 2022 /PRNewswire/ -- KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR), a leading digital marketplace platform for wholesale used vehicles, has reached a definitive agreement pursuant to which Carvana will acquire the company's ADESA U.S. physical auction business.

KAR Global Agrees to $2.2 Billion Sale of ADESA US Physical Auction Business to Carvana

PHOENIX--(BUSINESS WIRE)--Carvana Acquires ADESA U.S. Physical Auction Business

Carvana to Accelerate Growth Through Acquiring ADESA U.S. Physical Auction Business from KAR Global

KAR Auction Services, Inc. (KAR) CEO Peter Kelly on Q4 2021 Results - Earnings Call Transcript

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