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Dec 31, 2020
OPENLANE Q4 2020 Earnings Report
Reported a decrease in revenue and net income compared to the same period last year, impacted by the COVID-19 pandemic.
Key Takeaways
KAR Auction Services, Inc. reported a decrease in revenue and net income for the fourth quarter of 2020, as compared to the fourth quarter of 2019. The company's operating results were significantly impacted by the COVID-19 pandemic.
Reported revenue of $529.6 million, compared to $671.3 million in Q4 2019.
Net loss from continuing operations was $17.1 million, or $0.21 per diluted share, compared to net income of $15.3 million, or $0.12 per diluted share in Q4 2019.
Adjusted EBITDA decreased to $67.5 million, compared to $122.0 million in Q4 2019.
Operating adjusted net loss from continuing operations per diluted share was $0.01, compared to operating adjusted net income of $0.19 in Q4 2019.
Forward Guidance
The company expects net income from continuing operations of at least $90 million and Adjusted EBITDA of at least $475 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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