CARMEL, Ind. (AP) — CARMEL, Ind. (AP) — OPENLANE, Inc. (KAR) on Wednesday reported second-quarter profit of $33.4 million.
The Carmel, Indiana-based company said it had net income of 15 cents per share. Earnings, adjusted for non-recurring costs, were 33 cents per share.
The results beat 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 $481.7 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $449 million.
OPENLANE expects full-year earnings in the range of $1.12 to $1.17 per share.
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