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Last $36.72 USD
Change Today -0.08 / -0.22%
Volume 866.5K
KAR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 03/26/15 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Snapshot

Open
$36.61
Previous Close
$36.80
Day High
$36.96
Day Low
$36.35
52 Week High
03/23/15 - $37.73
52 Week Low
10/13/14 - $25.91
Market Cap
5.2B
Average Volume 10 Days
698.2K
EPS TTM
$1.34
Shares Outstanding
141.3M
EX-Date
03/23/15
P/E TM
27.5x
Dividend
$1.08
Dividend Yield
2.83%
Current Stock Chart for KAR AUCTION SERVICES INC (KAR)

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kar auction services inc (KAR) Details

KAR Auction Services, Inc., together with its subsidiaries, provides vehicle auction services in North America. It operates in three segments: ADESA Auctions, IAA, and AFC. The ADESA Auctions segment offers whole car auctions and related services to the vehicle remarketing industry through online auctions and auction facilities. It also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, and analytical services. This segment sells its products and services through vehicle manufacturers, rental car companies, and finance companies. The IAA segment offers salvage vehicle auctions and related services that facilitate the remarketing of vehicles for a range of sellers, including insurance companies, dealerships, rental car companies, fleet lease companies, and charitable organizations. This segment also provides title management, vehicle inspection center, and transportation and towing services. The AFC segment offers floorplan financing, a short-term inventory-secured financing, to independent used vehicle dealers. As of December 31, 2014, the company had a network of 65 whole car auction and 168 salvage auction locations. The company was formerly known as KAR Holdings, Inc. and changed its name to KAR Auction Services, Inc. in November 2009. KAR Auction Services, Inc. was founded in 2006 and is headquartered in Carmel, Indiana.

9,450 Employees
Last Reported Date: 02/18/15
Founded in 2006

kar auction services inc (KAR) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $832.3K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $433.9K
Chief Client Officer
Total Annual Compensation: $510.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $357.0K
Compensation as of Fiscal Year 2013.

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.

 

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Industry Analysis

KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 30.8x
Price/Sales 2.2x
Price/Book 3.4x
Price/Cash Flow 14.2x
TEV/Sales 1.0x
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