OPENLANE Q1 2021 Earnings Report
Key Takeaways
KAR Auction Services, Inc. reported its first quarter financial results for the period ended March 31, 2021. The company reported revenue of $581.6 million, a decrease of 10%. Net income increased to $50.9 million, or $0.25 per diluted share. Adjusted EBITDA increased 39% to $123.2 million.
Revenue decreased by 10% compared to the first quarter of 2020, totaling $581.6 million.
Net income increased to $50.9 million, or $0.25 per diluted share, compared to $2.8 million, or $0.02 per diluted share, in the first quarter of 2020.
Adjusted EBITDA increased by 39% to $123.2 million compared to $88.6 million in the same period last year.
Operating adjusted net income per diluted share increased to $0.45, compared to $0.09 for the quarter ended March 31, 2020.
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OPENLANE
Forward Guidance
The company's previously stated guidance remains unchanged.