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Last $37.16 USD
Change Today +0.53 / 1.45%
Volume 1.5M
KAR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 4:15 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Key Developments

KAR Auction Services Seeks Acquisitions

KAR Auction Services, Inc. (NYSE:KAR) is looking for acquisitions. Jim Hallett, Chief Executive Officer of KAR Auction Services said "we continue to prioritize strategic growth as the best use of our capital, we've done a realistic assessment of the next two to three quarters, which indicates we will not have the same pace of acquisitions as we had in the first half of 2015. And I do want to emphasize that this does not mean we will slow down on identifying and hopefully acquiring businesses that provide growth opportunities."

KAR Auction Services, Inc. Announces Quarterly Cash Dividend, Payable on October 1, 2015

KAR Auction Services, Inc. announced a cash dividend of $0.27 per share on the company's common stock. The dividend is payable on October 1, 2015, to stockholders of record as of the close of business on September 23, 2015.

KAR Auction Services, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Fiscal 2015

KAR Auction Services, Inc. reported unaudited consolidated financial results for the second quarter and six months ended June 30, 2015. For the second quarter of 2015, the company reported revenue of $658.3 million as compared with revenue of $585.6 million for the second quarter of 2014, an increase of 12%. Adjusted EBITDA for the quarter ended June 30, 2015 increased 10% to $170.0 million, as compared with adjusted EBITDA of $154.1 million for the quarter ended June 30, 2014. Net income for the second quarter of 2015 increased 17% to $59.5 million, or $0.41 per diluted share, as compared with net income of $50.8 million, or $0.36 per diluted share, in the second quarter of 2014. Adjusted net income per diluted share for the quarter ended June 30, 2015 increased 10% to $0.46 versus adjusted net income per diluted share of $0.42 for the quarter ended June 30, 2014. Operating profit was $116.5 million compared to $100.9 million a year ago. Income before income taxes was $94.3 million compared to $80.9 million a year ago. Adjusted net income was $66.3 million compared to $60.2 million a year ago. For the six months ended June 30, 2015, the company reported revenue of $1,290.7 million as compared with revenue of $1,169.4 million for the six months ended June 30, 2014, an increase of 10%. Adjusted EBITDA for the six months ended June 30, 2015 increased 10% to $332.2 million, as compared with adjusted EBITDA of $301.2 million for the six months ended June 30, 2014. Net income for the first six months of 2015 increased 59% to $114.0 million, or $0.79 per diluted share, as compared with net income of $71.5 million, or $0.51 per diluted share in the first six months of 2014. Net income for the six months ended June 30, 2014 was negatively impacted by $19.4 million or $0.14 per diluted share resulting from the company's refinancing activities. Adjusted net income per diluted share for the six months ended June 30, 2015 increased 6% to $0.88 versus adjusted net income per diluted share of $0.83 for the six months ended June 30, 2014. Operating profit was $224.4 million compared to $185.3 million a year ago. Income before income taxes was $183.4 million compared to $111.4 million a year ago. Net cash provided by operating activities was $200.5 million compared to $231.4 million a year ago. Purchase of property, equipment and computer software was $64.2 million compared to $47.3 million a year ago. Adjusted net income was $127.4 million compared to $116.6 million a year ago. The company is providing the earnings guidance for fiscal 2015. The company expected adjusted EBITDA in the range of $635 - $665 million, capital expenditure of $134 million, free cash flow before dividend payments in the range of $310 - $335 million, effective tax rate of 38%, net income per share in the range of $1.43 - $1.58, adjusted net income per share in the range of $1.62 - $1.77, free cash flow per share in the range of $2.17 - $2.35. EBITDA increase reflects the impact of the acquisitions completed in the first half of the year.

KAR Auction Services, Inc. Presents at J.P. Morgan Auto Conference, Aug-11-2015 12:55 PM

KAR Auction Services, Inc. Presents at J.P. Morgan Auto Conference, Aug-11-2015 12:55 PM. Venue: J.P. Morgan, 383 Madison Avenue, New York City, New York, United States. Speakers: Eric M. Loughmiller, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, Jonathan Peisner, Treasurer and VP Investor Relations.

KAR Auction Services, Inc. to Report Q2, 2015 Results on Aug 03, 2015

KAR Auction Services, Inc. announced that they will report Q2, 2015 results on Aug 03, 2015

 

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Industry Analysis

KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 24.8x
Price/Sales 2.1x
Price/Book 3.3x
Price/Cash Flow 12.5x
TEV/Sales 0.9x
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