Benzinga | May 4, 2021 04:42PM EDT

Recap: KAR Auction Services Q1 Earnings

Shares of KAR Auction Services (NYSE:KAR) moved higher in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 400.00% year over year to $0.45, which beat the estimate of $0.12.

Revenue of $581,600,000 decreased by 9.90% from the same period last year, which beat the estimate of $558,730,000.

Guidance

KAR Auction Services hasn't issued any earnings guidance for the time being.

KAR Auction Services hasn't issued any revenue guidance for the time being.

Recent Stock Performance

52-week high: $20.85

Company's 52-week low was at $10.28

Price action over last quarter: down 8.91%

Company Description

KAR Auction Services Inc offers a total package for wholesale-used car transactions, from salvage and used-car auctions to a broad range of financial and logistical support. The services comprise financing, repossessions, repairs, transportation, warranty, and inventory services. Kar has three business units in the United States and Canada: Adesa, Insurance Auto Auctions, and Automotive Finance. Adesa operates used-vehicle auctions and offers complete online services for all parties involved. Insurance Auto Auctions is a salvage-auto auction company serving the total-loss needs of insurance companies, lease companies, and rental companies. Automotive Finance provides inventory financing and business services, mainly to independent used-vehicle dealers.