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Jun 30, 2021
OPENLANE Q2 2021 Earnings Report
Achieved strongest results to-date in the digital dealer-to-dealer segment, with record numbers of sellers and buyers participating and 65% volume growth versus the second quarter 2020.
Key Takeaways
KAR Auction Services, Inc. reported a 40% year-over-year increase in total revenue, reaching $585.4 million for the second quarter of 2021. GAAP net income increased to $11.5 million, up from a net loss of $32.3 million in the same quarter of the previous year. The company's digital dealer-to-dealer segment saw record participation and a 65% volume growth.
Second quarter total revenue of $585.4 million, up 40% year-over-year
GAAP net income of $11.5 million, up from a GAAP net loss of $32.3 million in the second quarter of 2020
Adjusted EBITDA for the quarter ended June 30, 2021 increased 46% to $116.5 million, compared with $80.0 million for the quarter ended June 30, 2020.
Operating adjusted net income per diluted share increased 88% to $0.15 for the quarter ended June 30, 2021, compared with $0.08 for the quarter ended June 30, 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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