Loading...
•
Mar 31, 2020
OPENLANE Q1 2020 Earnings Report
KAR Auction Services reported a decrease in revenue and net income due to the impact of the COVID-19 pandemic.
Key Takeaways
KAR Auction Services, Inc. reported a decrease in revenue by 6% to $645.5 million compared to Q1 2019. Net income decreased significantly by 82% to $2.8 million, and Adjusted EBITDA decreased by 28% to $88.6 million, primarily due to the impact of the COVID-19 pandemic.
Revenue decreased by 6% compared to the first quarter of 2019.
Net income from continuing operations decreased by 82%.
Adjusted EBITDA decreased by 28% compared to the same period last year.
Company operations were significantly impacted by the COVID-19 pandemic, leading to modified auction processes and temporary suspensions of physical sales.
Revenue by Segment
Forward Guidance
The company has withdrawn its 2020 outlook and financial guidance previously provided on February 18, 2020 given the uncertainty of the business climate as impacted by COVID-19 and the unpredictable timeline of market recovery.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...