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Mar 31, 2023
OPENLANE Q1 2023 Earnings Report
Reported solid first quarter performance with double-digit growth in revenue, gross profit, adjusted EBITDA, and operating adjusted earnings per share.
Key Takeaways
KAR Auction Services, Inc. reported a strong first quarter with a 14% increase in total revenue and significant improvements in operating profit and income from continuing operations. Adjusted EBITDA also saw a 20% increase year-over-year.
Total revenue increased 14% year-over-year.
Operating profit and income from continuing operations showed significant increases.
Adjusted EBITDA increased 20% year-over-year.
Marketplace segment grew revenue and profitability through increased service attach rates and buyer participation.
Revenue by Segment
Forward Guidance
The company’s previously stated annual guidance for Adjusted EBITDA of $250 to $270 million and operating adjusted net income from continuing operations per diluted share of $0.37 to $0.47 remains unchanged.
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
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