OPENLANE Q2 2020 Earnings Report
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.
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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