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Dec 31, 2019
OPENLANE Q4 2019 Earnings Report
Reported a 13% increase in revenue and a 1% increase in net income compared to the same period last year.
Key Takeaways
KAR Auction Services, Inc. reported a revenue of $671.3 million for Q4 2019, a 13% increase compared to Q4 2018. Net income increased 1% to $15.3 million, or $0.12 per diluted share. Adjusted EBITDA increased 10% to $122.0 million.
Revenue from continuing operations increased by 13% to $671.3 million compared to Q4 2018.
Net income from continuing operations increased by 1% to $15.3 million, or $0.12 per diluted share, compared to Q4 2018.
Adjusted EBITDA from continuing operations increased by 10% to $122.0 million compared to Q4 2018.
The company announced a cash dividend of $0.19 per share on the company’s common stock.
Forward Guidance
The company provided annual guidance for 2020, including net income from continuing operations between $126.0 million and $139.3 million, and adjusted EBITDA between $520.0 million and $540.0 million.
Positive Outlook
- Net income from continuing operations: $126.0 - $139.3 million
- EBITDA: $528.0 - $548.0 million
- Adjusted EBITDA: $520.0 - $540.0 million
- Net income from continuing operations per share - diluted: $0.97 - $1.07
- Operating adjusted net income per share: $1.28 - $1.38
Challenges Ahead
- Earnings guidance does not contemplate future business development activities.
- Earnings guidance does not contemplate strategic developments.
- Earnings guidance does not contemplate gains/losses associated with step acquisitions.
- Earnings guidance does not contemplate contingent purchase price adjustments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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