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Last $37.28 USD
Change Today -0.63 / -1.66%
Volume 625.7K
KAR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Key Developments

KAR Auction Services, Inc. Reports unaudited consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for 2015

KAR Auction Services, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2014. reported its fourth quarter financial results for the period ended December 31, 2014. For the fourth quarter of 2014, the company reported revenue of $606.0 million as compared with revenue of $540.6 million for the fourth quarter of 2013, an increase of 12%. Adjusted EBITDA for the quarter ended December 31, 2014 increased 13% to $148.5 million, as compared with Adjusted EBITDA of $131.2 million for the quarter ended December 31, 2013. Net income for the fourth quarter of 2014 increased to $50.3 million, or $0.35 per diluted share, as compared with a net loss of $17.6 million, or $0.13 per diluted share, in the fourth quarter of 2013. Adjusted net income per diluted share for the quarter ended December 31, 2014 increased 54% to $0.40 versus adjusted net income per diluted share of $0.26 for the quarter ended December 31, 2013. For the year ended December 31, 2014, the company reported revenue of $2,364.5 million as compared with revenue of $2,173.3 million for the year ended December 31, 2013, an increase of 9%. Adjusted EBITDA for the year ended December 31, 2014 increased 11% to $598.8 million, as compared with Adjusted EBITDA of $538.2 million for the year ended December 31, 2013. Net income increased 150% to $169.3 million, or $1.19 per diluted share, as compared with net income of $67.7 million, or $0.48 per diluted share for the year ended December 31, 2013. Adjusted net income per diluted share for the year ended December 31, 2014 increased 36% to $1.62 versus adjusted net income per diluted share of $1.19 for the year ended December 31, 2013. The company expects 2015 Adjusted EBITDA of $630 million - $660 million. The company also expects net income per share of $1.40 - $1.55 and adjusted net income per share of $1.60 - $1.75, assuming a 2015 effective tax rate of approximately 38%. Adjusted net income per share for 2015 represents GAAP net income per diluted share excluding excess depreciation and amortization resulting from the 2007 merger, net of taxes. Additionally, the company expects 2015 cash taxes of approximately $130 million - $135 million, cash interest on corporate debt of approximately $60 million and capital expenditures of approximately $115 million.

KAR Auction Mulls Acquisitions

KAR Auction Services, Inc. (NYSE:KAR) intends to pursue acquisitions. "In terms of the acquisition pipeline, there are really two areas that I would suggest you focus on, and one is we are very focused on acquisitions that will involve technology that can be used by our sellers and by our buyers. And then, secondly, I would say we're still interested in expanding our footprint through brick-and-mortar," Jim Hallett, Chief Executive officer, said.

KAR Auction Services, Inc. Announces Quarterly Cash Dividend, Payable on April 2, 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 April 2, 2015, to stockholders of record as of the close of business on March 25, 2015.

KAR Auction Services, Inc. Presents at Credit Suisse 17th Annual Global Services Conference, Mar-10-2015 08:35 AM

KAR Auction Services, Inc. Presents at Credit Suisse 17th Annual Global Services Conference, Mar-10-2015 08:35 AM. Venue: Credit Suisse One Madison Avenue, enter on Park or Madison between 23rd and 24th Streets, New York, NY 10010, United States. Speakers: Eric M. Loughmiller, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, James P. Hallett, Chairman and Chief Executive Officer, Jonathan Peisner, Treasurer and VP, IR.

KAR Auction Services, Inc. to Report Q4, 2014 Results on Feb 17, 2015

KAR Auction Services, Inc. announced that they will report Q4, 2014 results at 9:16 PM, GMT Standard Time on Feb 17, 2015

 

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KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 31.8x
Price/Sales 2.2x
Price/Book 3.5x
Price/Cash Flow 14.6x
TEV/Sales 1.1x
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