CARMEL, Ind. (AP) — CARMEL, Ind. (AP) — OPENLANE, Inc. (KAR) on Wednesday reported first-quarter earnings of $36.9 million.
On a per-share basis, the Carmel, Indiana-based company said it had profit of 18 cents. Earnings, adjusted for one-time gains and costs, were 31 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The used and salvaged vehicle auctioneer posted revenue of $460.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $434.1 million.
OPENLANE expects full-year earnings in the range of 90 cents to $1 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KAR at https://www.zacks.com/ap/KAR
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