KAR Auction Services Revenue Jumps

By Staff Writer February 19, 2020

KAR Auction Services, Inc. reported revenue from continuing operations of $671.3 million for the fourth quarter.

This is a 13 percent increase year-over-year from $593.8 million from continuing operations.

Net income from continuing operations for the fourth quarter increased 1 percent to $15.3 million, or $0.12 per diluted share, as compared with net income from continuing operations of $15.1 million, or $0.11 per diluted share, in the fourth quarter of 2018.

Adjusted EBITDA from continuing operations for the quarter ended Dec. 31 increased 10 percent to $122.0 million, as compared with adjusted EBITDA from continuing operations of $110.5 million for 2018’s fourth quarter. Operating adjusted net income from continuing operations per diluted share decreased 10 percent to $0.19 for the quarter ended Dec. 31, as compared with operating adjusted net income from continuing operations per diluted share of $0.21 for the quarter ended Dec. 31, 2018.

Included in the company’s consolidated results were operating losses from TradeRev of $19.8 million in the fourth quarter. Year ago fourth quarter losses from TradeRev were some $15 million.

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Last modified on Wednesday, 26 February 2020 14:11

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