Openlane Inc reports results for the quarter ended June 30 - Earnings Summary

• Openlane Inc KAR reported quarterly adjusted earnings of 33 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 19 cents. The mean expectation of seven analysts for the quarter was for earnings of 22 cents per share. Wall Street expected results to range from 17 cents to 26 cents per share.

• Revenue rose 11.6% to $481.70 million from a year ago; analysts expected $454.50 million.

• Openlane Inc's reported EPS for the quarter was 15 cents​.

• The company reported quarterly net income of $33.4 million.

• Openlane Inc shares had risen by 2.4% this quarter and gained 26.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 4.8% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," 4 "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 $24.50, about 2.2% below its last closing price of $25.04

This summary was machine generated from LSEG data August 6 at 01:31 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)