CARMEL, Ind. (AP) — CARMEL, Ind. (AP) — OPENLANE, Inc. (OPLN) on Wednesday reported fourth-quarter profit of $59.5 million.
On a per-share basis, the Carmel, Indiana-based company said it had net loss of $1.77. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The used and salvaged vehicle auctioneer posted revenue of $494.3 million in the period.
For the year, the company reported profit of $177.7 million, or 96 cents per share. Revenue was reported as $1.93 billion.
OPENLANE expects full-year earnings in the range of $1.24 to $1.38 per share.
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