Openlane Inc reports results for the quarter ended in June - Earnings Summary

OPENLANE

08/08/2024 04:29

* Openlane Inc  KAR.N  reported quarterly adjusted earnings
of 19
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 25
cents.  The mean expectation of six analysts for the quarter was
for earnings of 21 cents per share. Wall Street expected
results to range from 19 cents to 22 cents per share.
    * Revenue rose 3.6% to $431.80 million from a year ago;
analysts
expected $429.61 million. 
    * Openlane Inc's reported EPS for the quarter was breakeven
results​.
    * The company reported quarterly net income of $10.7
million.
    * Openlane Inc shares had risen by 2.3% this quarter and
gained 14.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto
vehicles,
parts & service retailers peer group is also "buy"

Wall Street's median 12-month price target for Openlane Inc is
$20.00 
This summary was machine generated from LSEG data August 8 at
03:28 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.21           0.19           Missed
 Mar. 31 2024      0.21           0.19           Missed
 Dec. 31 2023      0.13           0.16           Beat
 Sep. 30 2023      0.15           0.18           Beat