KAR Q3 revenue $393M (+13% YoY); adjusted EBITDA $69.5M; repurchases $600M in debt

OPENLANE, Inc.

2022-Q3 EPS reported $1.11 revenue$1,146,600,000

Revenue $393.0M (+13% YoY); income from continuing ops $0.5M vs loss of $26.9M in Q3 2021.
Adjusted EBITDA $69.5M vs $66.6M; Marketplace gross profit per vehicle up 14% to $320.
Repurchased $600M of senior notes; bought $50M of stock in Q3 and $50M more in Oct at ~$12.79/sh.
Finance segment income from cont ops $36.3M vs $23.0M, driven by 16% higher revenue per loan.
Vehicles sold down 12% to 314,000; commercial -17%, dealer consignment -6%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OPENLANE, Inc. reported three and nine months ended September 30, 2022 results: revenue $393.0 million, net income $0.5 million, EPS $(0.09) per diluted share.

Period: three and nine months ended September 30, 2022
Revenue: $393.0 million
Net income: $0.5 million
EPS: $(0.09) per diluted share
Result: reported results

Exact text from the filing

opportunities ahead and believe our digital strategy and differentiated offerings position us well for the future." Third Quarter 2022 Financial Highlights • Total revenue was $393.0 million, an increase of 13% for the third quarter of 2022, compared with $347.1 million for the third quarter of 2021. • Income from continuing operations of $0.5 million, or $(0.09) per

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OPENLANE, Inc. filing history →

Source: SEC EDGAR

accession 0001395942-22-000066

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