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Jun 30, 2020
OPENLANE Q2 2020 Earnings Report
Reported a decrease in revenue and net loss from continuing operations due to the impact of the COVID-19 pandemic and a charge for the impairment of goodwill and other intangible assets.
Key Takeaways
KAR Auction Services, Inc. reported a decrease in revenue of 42% to $419.0 million compared to Q2 2019. The company reported a net loss from continuing operations of $32.3 million, or $0.27 per diluted share, compared to net income of $27.4 million, or $0.20 per diluted share, in Q2 2019. Adjusted EBITDA decreased 41% to $80.0 million.
Revenue decreased by 42% compared to the second quarter of 2019, totaling $419.0 million.
Net loss from continuing operations was $32.3 million, or $0.27 per diluted share.
Adjusted EBITDA decreased 41% to $80.0 million.
The company recorded a $29.8 million charge for the impairment of goodwill and other intangible assets.
OPENLANE
OPENLANE
OPENLANE Revenue by Segment
Revenue by Segment
Marketplace Revenue
CapyFin.comFinance Revenue
CapyFin.comPurchased Vehicle Sales Revenue
CapyFin.com Forward Guidance
Due to the evolving health, economic, social and governmental environments, the potential impact that COVID-19 could have on our business remains uncertain.
Revenue & Expenses
Visualization of income flow from segment revenue to net income