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Sep 30, 2024
OPENLANE Q3 2024 Earnings Report
OPENLANE delivered strong results, driven by marketplace performance and strategic investments.
Key Takeaways
OPENLANE reported a revenue of $448 million, driven by a 6% volume growth. The company's income from continuing operations was $28 million, with an adjusted EBITDA of $75 million. The marketplace segment showed continued resiliency and profitability, with significant adjusted EBITDA growth and a Gross Merchandise Value increase of 12% to nearly $7 billion.
Total revenue reached $448 million, an 8% increase year-over-year.
Consolidated income from continuing operations was $28 million, with Marketplace contributing $5 million.
Consolidated adjusted EBITDA was $75 million, a 10% increase year-over-year.
Marketplace revenue was $354 million, a 12% increase year-over-year, with adjusted EBITDA of $36 million, a 34% increase year-over-year.
Revenue by Segment
Forward Guidance
The company is updating its annual guidance to an income from continuing operations between $73 million and $81 million and an adjusted EBITDA between $285 million and $295 million.
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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