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Openlane Inc. - KAR STOCK NEWS

Welcome to our dedicated news page for Openlane (Ticker: KAR), a resource for investors and traders seeking the latest updates and insights on Openlane.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Openlane's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Openlane's position in the market.

News
Rhea-AI Summary
KAR Auction Services, Inc. is rebranding to OPENLANE, signaling a new customer-first approach to used vehicle remarketing. The change reflects the company's transformation to a more asset-light, digital marketplace company. Consolidating platforms, offerings, and operations into OPENLANE will help focus the company's strategy and investments, accelerate innovation, and simplify the overall customer experience.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.22%
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none
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Rhea-AI Summary
KAR Auction Services reported solid performance in Q1 2023 with double-digit growth in revenue, gross profit, adjusted EBITDA, and operating adjusted earnings per share. Total revenue increased by 14% YoY to $420.6 million. Income from continuing operations was $12.7 million compared to a loss of $8.4 million in Q1 2022. Adjusted EBITDA increased by 20% to $58.9 million. Marketplace revenue grew by 11% to $265.5 million. The company's annual guidance remains unchanged.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.22%
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none
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.44%
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Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
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management
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.01%
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none
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Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.85%
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.83%
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-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.2%
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none
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.34%
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conferences
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.64%
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Openlane Inc.

NYSE:KAR

KAR Rankings

KAR Stock Data

1.89B
105.68M
2.23%
103.36%
3.62%
Used Car Dealers
Retail Trade
Link
US
Carmel

About KAR

kar auction services, inc. (nyse: kar), a fortune® 1000 company, operates used vehicle auction services for north american sellers and buyers worldwide. based in carmel, ind., the kar group of companies is comprised of adesa, inc. (adesa), insurance auto auctions, inc. (iaa), automotive finance corporation, inc. (afc), and additional business units, with nearly 12,000 employees across the globe. adesa operates 65 wholesale used vehicle auctions and iaa has 165 salvage vehicle auctions. both companies offer leading online auction platforms to provide greater access for customers. afc provides inventory financing and comprehensive business services to primarily independent used vehicle dealers from its 105 locations. together, kar’s complementary businesses provide support, technology and logistics for the used vehicle industry. for more information, visit karauctionservices.com.