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

OPENLANE

02/05/2024 21:25

* Openlane Inc  KAR.N  reported quarterly adjusted earnings
of 19
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 12
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 fell 1% to $416.30 million from a year ago;
analysts
expected $424.57 million. 
    * Openlane Inc's reported EPS for the quarter was 5 cents​.
    * The company reported quarterly net income of $5.6 million.
    * Openlane Inc shares had risen by 0.9% this quarter and
gained 17.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 6.7%
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 May 2 at 08:25
p.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
 Mar. 31 2024      0.21           0.19           Missed
 Dec. 31 2023      0.13           0.16           Beat
 Sep. 30 2023      0.15           0.18           Beat
 Jun. 30 2023      0.12           0.25           Beat