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Dec 31, 2022
OPENLANE Q4 2022 Earnings Report
Reported an increase in total revenue and gross profit, completed cost actions, consolidated U.S. dealer-to-dealer marketplaces, migrated European marketplace technology, and repaid corporate debt while repurchasing common stock.
Key Takeaways
KAR Auction Services, Inc. reported a 4% increase in total revenue, reaching $372.8 million for Q4 2022. The company's income from continuing operations was $41.9 million, or $0.21 per diluted share. The company focused on cost management and growth, positioning itself to capture future opportunities.
Total revenue increased by 4% compared to Q4 2021.
Income from continuing operations was $41.9 million, or $0.21 per diluted share.
Operating adjusted net income from continuing operations was $47.6 million, or $0.33 per diluted share.
Marketplace revenue, excluding purchased vehicle sales, increased slightly.
OPENLANE
OPENLANE
OPENLANE Revenue by Segment
Revenue by Segment
Marketplace Revenue
CapyFin.comFinance Revenue
CapyFin.comPurchased Vehicle Sales Revenue
CapyFin.com Forward Guidance
The company provided guidance for the full year 2023.
Positive Outlook
- Income from continuing operations (in millions) $33 - $48
- Adjusted EBITDA (in millions) $250 - $270
- Operating adjusted net income from continuing operations per share - diluted $0.37 - $0.47
Challenges Ahead
- Income (loss) from continuing operations per share - diluted *($0.08) - $0.02
Revenue & Expenses
Visualization of income flow from segment revenue to net income