earnings
confidence high
sentiment positive
materiality 0.75
OPENLANE Q1 adj EBITDA $75M (+27% YoY); Marketplace volumes +13%; reaffirms FY guidance
OPENLANE, Inc.
2024-Q1 EPS reported
$0.05
revenue$416,300,000
- Marketplace volumes +13% YoY (commercial +33%, dealer -8%); GMV $7B (+17%).
- Adjusted EBITDA $75M vs $59M prior year (+27%); Marketplace at 47% of total adj EBITDA.
- Revenue $416M (-1%); gross profit $202M (+3%); operating profit $69M (+6%).
- Finance segment rev $98M (-2%); gross profit margin 82.9%; credit provision 2.3% of avg managed receivables.
- Cash from ops $100M; FY2024 adj EBITDA guidance reaffirmed at $285-$305M.