Bolsters Leadership Bench With More Than 30 Years of Financial Management and Investor Relations Expertise CARMEL, Ind., April 22, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, announces the company has named Brad Herring as EVP and Chief Financial Officer effective May 27, 2025. Herring will be responsible for leading all financial, reporting and investor-facing functions across OPENLANE, including the company's capital investment s ...

Investors interested in Automotive - Original Equipment stocks are likely familiar with OPENLANE (KAR) and Ferrari (RACE) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets ...

CARMEL, Ind., April 16, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, will release its first quarter 2025 financial results after the market closes on Wednesday, May 7, 2025.OPENLANE will also host an earnings conference call and webcast following the release on Wednesday, May 7, 2025, at 5:00 p.m. ET. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call. A live webcast will be available ...

Openlane (NYSE: KAR ) is one of the largest used car, dealer-to-dealer wholesale marketplaces, accounting for 1.5 million cars sold last year in a wholesale auto market that comprises roughly 15 million units each year with a ~$19,000 average selling price. While Openlane enjoysAnalyst’s Disclosure: I/we have a beneficial long position in the shares of KAR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensa ...

OPENLANE, Inc. (NYSE:KAR) Q4 2024 Earnings Conference Call February 19, 2025 5:00 PM ET Company Participants Itunu Orelaru - Head-Investor Relations Peter Kelly - Chief Executive Officer Brad Lakhia - Executive Vice President and Chief Financial Officer Conference Call Participants Rajat Gupta - JPMorgan Craig Kennison - Baird John Murphy - Bank of America Bret Jordan - Jefferies Operator Good day and welcome to the OPENLANE Fourth Quarter and Year-End Results 2024 Conference Call. All participants will be ...

Financial Performance - Total operating revenues for the year ended December 31, 2024, were $1,788.5 million, an increase of 5% from $1,695.7 million in 2023[194]. - The company recorded a net income of $109.9 million for the year ended December 31, 2024, compared to a net loss of $154.1 million in 2023[193]. - Income from continuing operations for the year ended December 31, 2024, was $109.9 million, compared to a loss of $154.8 million in 2023[335]. - Adjusted EBITDA for 2024 was $293.4 million, an increase from $272.0 million in 2023, reflecting a year-over-year growth of approximately 7.5%[335]. - Net cash provided by operating activities from continuing operations was $292.8 million in 2024, up from $237.0 million in 2023, indicating a 23.5% increase[337]. Revenue Breakdown - Auction fees increased to $443.8 million in 2024 from $395.3 million in 2023, reflecting a growth of 12%[193]. - Service revenue decreased to $586.6 million in 2024 from $619.7 million in 2023, a decline of 5%[193]. - Total Marketplace revenue increased by $105.7 million, or 8%, to $1,357.4 million for the year ended December 31, 2024, compared to $1,251.7 million in 2023, driven by a 9% increase in the number of vehicles sold[210]. - Gross profit from the Marketplace segment rose by $25.3 million, or 7%, to $393.4 million for the year ended December 31, 2024, compared to $368.1 million in 2023[215]. - Purchased vehicle sales increased by $90.3 million, or 38%, to $327.0 million for the year ended December 31, 2024, attributed to an increase in purchased vehicles sold in Europe[214]. Expenses and Costs - Total operating expenses decreased to $1,606.3 million in 2024 from $1,831.5 million in 2023, a reduction of 12%[193]. - Interest expense decreased to $21.8 million in 2024, down 13% from $25.2 million in 2023[200]. - Selling, general and administrative expenses decreased by $0.8 million, or 2%, to $49.0 million for the year ended December 31, 2024, mainly due to decreases in IT costs and stock-based compensation[231]. - Cost of services for the Finance segment increased by $1.5 million, or 2%, to $67.4 million for the year ended December 31, 2024, primarily due to increases in professional fees, compensation, and travel expenses[230]. Financial Position and Liquidity - Cash and cash equivalents rose to $143.0 million from $93.5 million year-over-year[309]. - Amounts available under the Revolving Credit Facilities increased significantly to $397.9 million from $133.3 million[309]. - The company had $0.0 million drawn on the Revolving Credit Facilities as of December 31, 2024, compared to $137.0 million in the previous year[317]. - The Consolidated Senior Secured Net Leverage Ratio was negative as of December 31, 2024, indicating a strong liquidity position[320]. - The company has committed liquidity of $2.0 billion for U.S. finance receivables as of December 31, 2024[326]. Tax and Impairment - The effective tax rate for the year ended December 31, 2024, was 30.4%, compared to -5.7% in 2023, influenced by goodwill and other intangibles impairment charges[203]. - Goodwill impairment charges totaled $218.9 million for the U.S. Dealer-to-Dealer reporting unit and $6.4 million for the Europe reporting unit in 2023[197]. - The company recorded non-cash goodwill impairment charges totaling $218.9 million related to the U.S. Dealer-to-Dealer reporting unit and $6.4 million related to the Europe reporting unit in 2023[239]. Audit and Compliance - OPENLANE, Inc. reported consolidated financial statements for the years ended December 31, 2024, 2023, and 2022, indicating a fair presentation of financial position[374]. - The audit opinion expressed by KPMG LLP confirmed the effectiveness of the Company's internal control over financial reporting as of December 31, 2024[375]. - The report emphasizes the importance of internal controls in financial reporting, as assessed by the auditor[375]. - The company adheres to U.S. generally accepted accounting principles in its financial reporting[374].

Q4 2024 & Annual Earnings Slides // February 19, 2025 Forward-Looking Statements Certain statements contained in this presentation include, and OPENLANE may make related oral, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements made that are not historical facts (including but not limited to expectations, estimates, assumptions, projections and/or financial guidance) may be forward-looking statements. Words such as "should," "may ...

OPENLANE (KAR) came out with quarterly earnings of $0.21 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this used and salvaged vehicle auctioneer would post earnings of $0.21 per share when it actually produced earnings of $0.26, delivering a surprise of 23.81%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.OPENLANE, ...

EXHIBIT 99.2 OPENLANE, Inc. Q4 and YTD 2024 Supplemental Financial Information February 19, 2025 OPENLANE, Inc. EBITDA and Adjusted EBITDA Measures EBITDA and Adjusted EBITDA as presented herein are supplemental measures of our performance that are not required by, or presented in accordance with, generally accepted accounting principles in the United States ("GAAP"). They are not measurements of our financial performance under GAAP and should not be considered as substitutes for net income (loss), operatin ...

CARMEL, Ind., Feb. 19, 2025 /PRNewswire/ -- OPENLANE, Inc. (NYSE: KAR), today reported its fourth quarter and annual financial results for the period ended December 31, 2024."OPENLANE delivered positive fourth quarter and full-year 2024 results, driven by another strong quarter in our marketplace business," said Peter Kelly, CEO. "The Marketplace grew year-over-year volume for the seventh straight quarter, including 15% growth in dealer volumes, and grew Adjusted EBITDA by an impressive 30%. Our customers a ...