Last $31.98 USD
Change Today -0.39 / -1.20%
Volume 939.4K
As of 8:04 PM 07/9/14 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Snapshot

Open
$32.44
Previous Close
$32.37
Day High
$32.45
Day Low
$31.82
52 Week High
07/3/14 - $32.65
52 Week Low
08/6/13 - $23.91
Market Cap
4.5B
Average Volume 10 Days
1.2M
EPS TTM
$0.59
Shares Outstanding
139.8M
EX-Date
06/23/14
P/E TM
54.1x
Dividend
$1.00
Dividend Yield
2.94%
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. This segment also provides value-added services, such as auction related, transportation, reconditioning, inspection, title and repossession administration and remarketing, and analytical services. The ADESA Auctions segment sells its products and services through commercial fleet operators, financial institutions, rental car companies, new and used vehicle dealers, and vehicle manufacturers and their captive finance companies to franchise and independent used vehicle dealers. The IAA segment offers salvage vehicle auctions and related services that facilitate the remarketing of damaged vehicles designated as total losses by insurance companies, as well as charity donation, recovered stolen, and low value used vehicles. This segment also provides inbound transportation logistics, inspection, evaluation, salvage recovery, titling, and settlement administrative services. The AFC segment offers floorplan financing, a short-term inventory-secured financing, to independent used vehicle dealers. As of December 31, 2013, the company had a network of 65 whole car auction and 164 salvage auction locations, as well as serviced auctions through 105 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.

8,610 Employees
Last Reported Date: 02/19/14
Founded in 2006

kar auction services inc (KAR) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $832.3K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $433.9K
Chief Operating Officer
Total Annual Compensation: $416.2K
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. Presents at Stephens 2014 Spring Investment Conference, Jun-04-2014 03:00 PM

KAR Auction Services, Inc. Presents at Stephens 2014 Spring Investment Conference, Jun-04-2014 03:00 PM. Venue: The New York Palace Hotel, New York, New York, United States. Speakers: Eric M. Loughmiller, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, James P. Hallett, Chief Executive Officer and Director.

KAR Auction Services, Inc. Announces Cash Dividend, Payable on July 3, 2014

KAR Auction Services, Inc. announced a cash dividend of $0.25 per share on the company's common stock. The dividend is payable on July 3, 2014, to stockholders of record as of the close of business on June 25, 2014.

KAR Auction Services, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Updates Earnings Guidance for 2014

KAR Auction Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the first quarter of 2014, the company reported revenue of $583.8 million as compared with revenue of $557.6 million for the first quarter of 2013, an increase of 5%. Operating profit was $84.4 million against $78.1 million last year. Income before income taxes was $30.5 million against $46.1 million last year. Adjusted EBITDA for the quarter ended March 31, 2014 increased 8% to $147.1 million, as compared with adjusted EBITDA of $136.2 million for the quarter ended March 31, 2013. As a result of the refinancing activities in the first quarter of 2014, net income decreased 29% to $20.7 million, or $0.15 per basic and diluted share, as compared with net income of $29.1 million, or $0.21 per basic and diluted share, in the first quarter of 2013. Adjusted net income per diluted share for the quarter ended March 31, 2014 increased 32% to $0.41 against adjusted net income per diluted share of $0.31 for the quarter ended March 31, 2013. Adjusted net income was $58.3 million against $43.6 million last year. The company has updated its guidance to reflect the recent refinancing of its credit agreement. The company expects 2014 adjusted EBITDA of $580 million - $600 million. The company also expects net income per share of $0.95 - $1.05 and adjusted net income per share of $1.35 - $1.45. The company expects its 2014 effective tax rate to be approximately 40%. Adjusted net income per share for 2014 represents GAAP net income per diluted share excluding excess depreciation and amortization and stock-based compensation, both resulting from the 2007 merger, and the loss on extinguishment of debt, all net of taxes. Additionally, the company expects 2014 cash taxes of approximately $105 million - $115 million, cash interest on corporate debt of approximately $61 million and capital expenditures of approximately $105 million. This would result in free cash flow before dividend payments of approximately $309 million to $319 million or $2.17 per share - $2.24 per share.

 

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KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 77.0x
Price/Sales 2.1x
Price/Book 3.0x
Price/Cash Flow 17.8x
TEV/Sales 0.8x
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