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Mar 31, 2021
OPENLANE Q1 2021 Earnings Report
KAR Auction Services reported an increase in net income and Adjusted EBITDA, despite a decrease in revenue, reflecting improved financial performance compared to the same period last year.
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.
Revenue by Segment
Forward Guidance
The company's previously stated guidance remains unchanged.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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