earnings
confidence high
sentiment neutral
materiality 0.60
OPENLANE Q2 revenue $432M (+4% YoY); adj. EBITDA $71M; updates FY 2024 guidance
OPENLANE, Inc.
2024-Q2 EPS reported
$0.05
revenue$848,100,000
- Marketplace volumes up 7% YoY; GMV ~$7B (+6% YoY).
- Income from continuing ops $11M; adjusted EBITDA $71M vs $83.8M in Q2 2023.
- FY2024 guidance: income from continuing ops $65-80M; adj. EBITDA $285-305M.
- Recorded $12M Canadian Digital Services Tax charge ($10M prior years).
- Year-to-date cash flow from operations $138M.