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OPENLANE Q1 2023 Earnings Report

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$19.57 +0.29 (+1.52%)
As of 10:43 AM Eastern
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OPENLANE EPS Results

Actual EPS
$0.12
Consensus EPS
$0.09
Beat/Miss
Beat by +$0.03
One Year Ago EPS
-$0.02

OPENLANE Revenue Results

Actual Revenue
$420.60 million
Expected Revenue
$387.47 million
Beat/Miss
Beat by +$33.13 million
YoY Revenue Growth
+13.90%

OPENLANE Announcement Details

Quarter
Q1 2023
Time
After Market Closes

Conference Call Resources

Conference Call Audio

Slide Deck

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OPENLANE Earnings Headlines

JPMorgan Chase & Co. Downgrades OPENLANE (NYSE:KAR) to Neutral
It’s Time to Buy Elon’s “ChatGPT Killer”
Elon Musk’s new AI model is blowing everyone’s mind. It has been called “a game-changer in AI innovation”... “The future of AI”... And “a revolutionary leap forward.” Tech legend and angel investor Jeff Brown believes this AI is so powerful that it will kill ChatGPT… And make a lot of people rich in the process.
OPENLANE (NYSE:KAR) Rating Lowered to "Hold" at StockNews.com
JP Morgan Downgrades OPENLANE (KAR)
Openlane downgraded to Neutral from Overweight at JPMorgan
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About OPENLANE

OPENLANE (NYSE:KAR), together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles. Its digital marketplaces include OPENLANE, a mobile-app enabled solutions that allows dealers to sell and source inventory in the United States. This segment also provides value-added ancillary services, including inbound and outbound transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services. This segment sells its products and services through vehicle manufacturers, fleet companies, rental car companies, finance companies, and others. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent used vehicle dealers. The company serves commercial customers and dealer customers. The company was formerly known as KAR Auction Services, Inc. and changed its name to OPENLANE, Inc. in May 2023. OPENLANE, Inc. was incorporated in 2006 and is headquartered in Carmel, Indiana.

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