KAR - Earnings announcements

Marketplace dealer volume growth of 14% YoYGross Merchandise Value (GMV) of approximately $7.3 billion, representing 9% YoY growthRevenue of $498 million, representing 8% YoY growth, driven by 20% growth in auction fee revenueIncome from continuing operations of $48 million, representing 69% YoY growthAdjusted EBITDA of $87 million, representing 17% YoY growthCash flow from operating activities of $72 millionRaised full year guidance for Adjusted EBITDA and Operating Adjusted EPSCARMEL, Ind., Nov. 5, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its third quarter financial results for the period ended September 30, 2025.

CARMEL, Ind., Oct. 15, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its third quarter 2025 financial results before the market opens on Wednesday, Nov. 5, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Nov. 5, 2025, at 8:30 a.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Herring. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPEN

Marketplace dealer volume growth of 21% YoYGross Merchandise Value (GMV) of approximately $7.5 billion, representing 10% YoY growthRevenue of $482 million, representing 9% YoY growth, driven by 24% growth in auction fee revenueIncome from continuing operations of $33 million, representing 212% YoY growthAdjusted EBITDA of $87 million, representing 21% YoY growthCash flow from operating activities of $72 million, representing 91% YoY growthAdjusted Free Cash Flow of $87 million, representing 34% YoY growthRaised full year guidance for Adjusted EBITDA and Operating Adjusted EPSCARMEL, Ind., Aug. 6, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its second quarter financial resu

CARMEL, Ind., July 16, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its second quarter 2025 financial results before the market opens on Wednesday, Aug. 6, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Aug. 6, 2025, at 8:30 a.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Herring. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPE

Marketplace dealer volume growth of 15% YoYRevenue of $460 million, representing 7% YoY growth, driven by 10% YoY Marketplace growthIncome from continuing operations of $37 million, representing 99% YoY growthAdjusted EBITDA of $83 million, representing 11% YoY growthCash flow from operating activities of $123 million, representing 22% YoY growthAuthorized new $250 million share repurchase programCARMEL, Ind., May 7, 2025  /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its first quarter financial results for the period ended March 31, 2025. "OPENLANE delivered a str

CARMEL, Ind., April 16, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2025 financial results after the market closes on Wednesday, May 7, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 7, 2025, at 5:00 p.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available at the investor relations section of corporate.openlane.com. Following

CARMEL, Ind., Feb. 19, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2024. "OPENLANE delivered positive fourth quarter and full-year 2024 results, driven by another strong quarter in our marketplace business," said Peter Kelly, CEO. "The Marketplace grew year-over-year volume for the seventh straight quarter, including 15% growth in dealer volumes, and grew Adjusted EBITDA by an impressive 30%. Our customers are clearly responding to our unique offerings and our differentiated va

CARMEL, Ind., Jan. 29, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its fourth quarter and full year 2024 financial results after the market closes on Wednesday, Feb. 19, 2025. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Feb. 19, 2025, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking

CARMEL, Ind., Nov. 6, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its third quarter financial results for the period ended September 30, 2024. "OPENLANE delivered strong third quarter results while advancing a differentiated pipeline of innovation and expanding our investments in people, technology and the customer experience," said Peter Kelly, CEO of OPENLANE. "I'm particularly pleased with the performance of our marketplace business, which grew volumes, gross profit and adjusted EBITDA with positive contributions from our US, Canadian and European marketp

CARMEL, Ind., Oct. 16, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its third quarter 2024 financial results after the market closes on Wednesday, Nov. 6, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, Nov. 6, 2024, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENL

CARMEL, Ind., Aug. 7, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its second quarter financial results for the period ended June 30, 2024. "OPENLANE's second quarter and year-to-date results clearly demonstrate the power of our differentiated platform and the strong scalability characteristics of our company," said Peter Kelly, CEO of OPENLANE. "During the quarter, we grew marketplace and finance volumes, increased revenue and delivered strong adjusted EBITDA and operating cash flows. I am confident in OPENLANE's strategy, we are investing in technology and

CARMEL, Ind., July 18, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its second quarter 2024 financial results after the market closes on Wednesday, August 7, 2024. OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, August 7, 2024, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the

CARMEL, Ind., May 1, 2024 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its first quarter financial results for the period ended March 31, 2024. "I am very pleased with OPENLANE's first quarter results and believe they represent a compelling preview of the performance OPENLANE is capable of delivering as the industry recovery continues" said Peter Kelly, CEO of OPENLANE. "The marketplace segment grew volumes by 13%, delivered 47% of total OPENLANE adjusted EBITDA and continued to take share from physical auctions. Our finance segment was also a strong contributor d

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 will also host an earnings conference call and webcast following the release on Wednesday, May 1, 2024, at 4:30 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLA

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. "Our business made significant progress in 2023, and we are very pleased to deliver results that exceeded our guidance for the year," said Peter Kelly, CEO of OPENLANE. "We are beginning to see the positive impacts of our strategic investments in innovation and technology, our brand simplification work, as well as our continued diligence around costs. Our solid execution in the fourth quarter and throughou

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 will also host an earnings conference call and webcast following the release on Tuesday, February 20, 2024, at 5:00 p.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and asking to join the

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.Includes Manheim auction sales and operations and the Manheim Montreal facility; all other Manheim Canada facilities excluded.Anticipated to deliver accelerated cash flow payback through unlock of asset sale, cost and operational synergies.CARMEL, Ind.,

CARMEL, Ind., Aug. 2, 2023 /PRNewswire/ -- OPENLANE, Inc. (NYSE:KAR), today reported its second quarter financial results for the period ended June 30, 2023. "I am very pleased with our solid performance in the second quarter. Against an industry backdrop of continued tight supply, we delivered strong growth in revenue, total gross profit and adjusted EBITDA," said Peter Kelly, CEO of OPENLANE. "Our performance was led by our Marketplace segment, which, given the scalability of our asset-light, digital model, is very well positioned to help build on our positive operational an

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 will also host an earnings conference call and webcast on Thursday, August 3, 2023, at 8:30 a.m. ET. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The conference call may be accessed by calling 1-833-634-2155 and entering participant passcode "OPENLANE."

Total revenue increased 14% year-over-yearSignificant increases in operating profit and income from continuing operationsAdjusted EBITDA increased 20% year-over-yearCARMEL, 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. "I am very pleased with our solid performance in the first quarter and the improvement we achieved over the prior year—including double-digit growth in revenue, gross profit, adjusted EBITDA and operating adjusted earnings per share," said Peter Kell

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 will also host an earnings conference call and webcast on Wednesday, May 3, 2023, at 8:30 a.m. ET. The call will be hosted by KAR Chief Executive Officer Peter Kelly, EVP and Chief Financial Officer Brad Lakhia and Chief Accounting Officer Scott Anderson. The conference call may be accessed by calling

Total revenue and gross profit increased for the quarter and yearCost actions completed on schedule and contributed to a reduction in fourth quarter selling, general and administrative expensesCompleted consolidation of U.S. dealer-to-dealer marketplaces and migrated European marketplace technology onto a single platformOver $1.5 billion of corporate debt repaid and 12.6 million shares of common stock repurchased and retired for approximately $182 million in 2022CARMEL, 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.

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 will also be hosting an earnings conference call and webcast on Wednesday, February 22, 2023, at 8:30 a.m. ET. The call will be hosted by KAR Chief Executive Officer Peter Kelly and Interim Chief Financial Officer Scott Anderson. The conference call may be accessed by calling 1-833-6

Revenue, gross profit per vehicle sold, income from continuing operations and Adjusted EBITDA increased for the quarter despite a decrease in volumesRepurchased $600 million principal amount of senior notesRepurchased $50 million of common stock in the third quarter and an additional $50 million of common stock in October 2022CARMEL, Ind., Nov. 1, 2022 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE:KAR) today reported its third quarter financial results for the period ended September 30, 2022. "I am pleased with the results that we produced across the organization, especiall

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 will also host an earnings conference call and webcast on Wednesday, November 2, 2022, at 8:30 a.m. ET. The call will be hosted by KAR Chief Executive Officer Peter Kelly and Executive Vice President and Chief Financial Officer Eric Loughmiller. The conference call may be accessed by calling 1-833

KAR completed the sale of its ADESA U.S. physical auction business to Carvana and is using the proceeds to reduce debtThe company has over $800 million of available cash as of June 30, 2022The 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 quarterThe company's performance was impacted by reductions in conversion rates across its marketplacesCARMEL, 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.

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 will also be hosting an earnings conference call and webcast on Wednesday, August 3, 2022, at 8:30 a.m. ET.  The call will be hosted by KAR Chief Executive Officer Peter Kelly and Executive Vice President and Chief Financial Officer Eric Loughmiller. The conference call may be accessed by calling

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. ET. The event is expected to conclude at 12:15 p.m. ET. During the event, Chief Executive Officer Peter Kelly and Executive Vice President and Chief Financial Officer Eric Loughmiller will discuss the current market outlook and provide an in-depth review of KAR Global's strategic direction, operating model, financial performance and l

KAR expects to close the transaction selling its ADESA U.S. physical auction business to Carvana, with the proceeds expected to reduce debtKAR reported consistent revenue from continuing operationsFor the first quarter, gross profit per vehicle sold increased year-over-year to $255Continued growth in digital dealer-to-dealer volumes were driven by industry-leading platforms, BacklotCars and TradeRevCARMEL, 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. "We expect to

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 will also be hosting an earnings conference call and webcast on Wednesday, May 4, 2022, at 8:30 a.m. ET.  The call will be hosted by KAR Chief Executive Officer Peter Kelly and Executive Vice President and Chief Financial Officer Eric Loughmiller. The conference call may be accessed by calling 1-844-

Proposed transaction will provide significant infrastructure and team to expand and enhance Carvana's customer offering with a broader selection of vehicles and even faster delivery times At full utilization, ADESA U.S. reconditioning operations expand Carvana annual production capacity by approximately 2M units to over 3M 78% of U.S. population will be within 100 miles of a Carvana inspection and reconditioning center once ADESA's 56 U.S. sites are fully built out within Carvana's production network Carvana will continue to operate and expand ADESA auction business under the leadership of ADESA President John Hammer Carvana (NYSE:CVNA), the industry pioneer for buying and se

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. The all-cash transaction is valued at $2.2 billion and includes all auction sales, operations and staff at 56 ADESA U.S. vehicle logistics centers and exclusive use of the ADESA.com marketplace in the U.S. The agreement is closely aligned with KAR's digital strategy, and will allow KAR to focus on its portfolio of industry-leading digital marketplaces. Proceeds of the transaction will be utilized to r

CARMEL, Ind., Feb. 16, 2022 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE:KAR), today reported its fourth quarter financial results for the period ended December 31, 2021. "Though commercial seller volumes remained constrained in the fourth quarter, I was pleased with our performance in the face of this challenge," said Peter Kelly, CEO of KAR Global. "We have maintained — and in some cases slightly increased — our share with commercial sellers while achieving strong double-digit growth in our digital dealer-to-dealer businesses. We are focused on improving gross profit pe

CARMEL, Ind., Feb. 11, 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 fourth quarter and full year 2021 financial results after the market closes on Wednesday, February 16, 2022. KAR will also be hosting an earnings conference call and webcast on Thursday, February 17, 2022, at 8:30 a.m. ET. The call will be hosted by KAR Chief Executive Officer Peter Kelly and Executive Vice President and Chief Financial Officer Eric Loughmiller. The conference call may be

CARMEL, Ind., Nov. 2, 2021 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE:KAR), today reported its third quarter financial results for the period ended September 30, 2021. "I am pleased with our third quarter performance, particularly given the extremely constrained vehicle supply our industry continues to face," said Peter Kelly, CEO of KAR Global. "We continued to experience solid growth in our digital dealer-to-dealer segment and once again saw record numbers of total active sellers and buyers participate in our marketplaces. Our continued efforts to refine our operating

CARMEL, Ind., Oct. 19, 2021 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE:KAR) will release its third quarter 2021 financial results after the market closes on Tuesday, November 2, 2021. KAR will also be hosting an earnings conference call and webcast on Wednesday, November 3, 2021 at 8:30 a.m. ET.  The call will be hosted by KAR's Chief Executive Officer, Peter Kelly and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-844-778-4145 and entering participant passcode 2698167, while the live web cast wil

CARMEL, Ind., Sept. 20, 2021 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE:KAR), a leading global wholesale used vehicle digital marketplace operator, today announced that as a result of the continued disruption caused by the chip shortage and the corresponding lack of visibility into used vehicle volumes in its marketplaces, the company is withdrawing its previously provided financial outlook for fiscal 2021. The company expects $95 million to $100 million of Adjusted EBITDA for the third quarter 2021 and expects approximately 2.6 million vehicles sold in 2021. Due to the market uncertainty, the company does not intend to provide fourth quarter expectations at this time.

CARMEL, Ind., Aug. 3, 2021 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE:KAR), today reported its second quarter financial results for the period ended June 30, 2021. "I am pleased with our second quarter performance, particularly given the significant supply headwinds that our industry faced," said Peter Kelly, CEO of KAR. "We achieved our strongest results to-date in the digital dealer-to-dealer segment, with record numbers of sellers and buyers participating and 65% volume growth versus the second quarter 2020. We also saw improvement in the unit economics at ADESA and

CARMEL, Ind., July 20, 2021 /PRNewswire/ -- KAR Auction Services, Inc. (NYSE:KAR) will release its second quarter 2021 financial results after the market closes on Tuesday, August 3, 2021. KAR will also be hosting an earnings conference call and webcast on Wednesday, August 4, 2021 at 8:30 a.m. Eastern.  The call will be hosted by KAR's Chief Executive Officer, Peter Kelly and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-844-778-4145 and entering participant passcode 5498273, while the live web cast w