Last $34.59 USD
Change Today -0.14 / -0.40%
Volume 49.4K
KAR On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 10:21 AM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Snapshot

Open
$34.72
Previous Close
$34.73
Day High
$34.80
Day Low
$34.59
52 Week High
11/20/14 - $34.87
52 Week Low
10/13/14 - $25.91
Market Cap
4.9B
Average Volume 10 Days
924.2K
EPS TTM
$0.86
Shares Outstanding
140.8M
EX-Date
12/24/14
P/E TM
40.2x
Dividend
$1.08
Dividend Yield
2.89%
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. Announces Common Stock Cash Dividend, Payable on January 7, 2015

KAR Auction Services, Inc. announced that its board of directors authorized cash dividend of $0.27 per share on the company's common stock. The dividend is payable on January 7, 2015, to stockholders of record as of the close of business on December 29, 2014.

KAR Auction Services, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fiscal 2014

KAR Auction Services, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of $589.1 million as compared with revenue of $533.7 million for the third quarter of 2013, an increase of 10%. Adjusted EBITDA increased 14% to $149.1 million, as compared with Adjusted EBITDA of $130.6 million for the quarter ended September 30, 2013. Net income increased 108% to $47.5 million, or $0.33 per diluted share, as compared with net income of $22.8 million, or $0.16 per diluted share, in the third quarter of 2013. Adjusted net income per diluted share for the quarter ended September 30, 2014 increased 38% to $0.40 versus adjusted net income per diluted share of $0.29 for the quarter ended September 30, 2013. Operating profit was $95.7 million against $67.6 million a year ago. Income before income taxes was $75.9 million against $42.4 million a year ago. Adjusted net income was $56.8 million against $41.3 million a year ago. EBITDA was $145.0 million against $117.8 million a year ago. For the nine months, the company reported revenue of $1,758.5 million as compared with revenue of $1,632.7 million for the nine months ended September 30, 2013, an increase of 8%. Adjusted EBITDA for the nine months ended September 30, 2014 increased 11% to $450.3 million, as compared with Adjusted EBITDA of $407.0 million for the nine months ended September 30, 2013. Net income increased 40% to $119.0 million, or $0.84 per diluted share, as compared with net income of $85.3 million, or $0.61 per diluted share in the first nine months of 2013. Adjusted net income per diluted share for the nine months ended September 30, 2014 increased 30% to $1.22 versus adjusted net income per diluted share of $0.94 for the nine months ended September 30, 2013. Operating profit was $281.0 million against $227.0 million a year ago. Income before income taxes was $187.3 million against $144.8 million a year ago. Adjusted net income was $173.0 million against $132.1 million a year ago. EBITDA was $397.7 million against $369.7 million a year ago. For full year of 2014, the company continues to expect 2014 adjusted EBITDA of $580 - $600 million. The company expects net income per share of $1.05 - $1.15 and adjusted net income per share of $1.45 - $1.55, assuming an effective tax rate of approximately 38%. 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 - $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 to $319 million or $2.17 - $2.24 per share. In addition, the company have experienced lower depreciation and amortization expense than originally anticipated in its guidance. As a result, it is increasing its guidance for net income per share to $1.05 to $1.15 per share. The company now expect adjusted net income per share for 2014 of $1.45 to $1.55.

KAR Auction Services, Inc. to Report Q3, 2014 Results on Nov 04, 2014

KAR Auction Services, Inc. announced that they will report Q3, 2014 results on Nov 04, 2014

 

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Industry Analysis

KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 48.5x
Price/Sales 2.1x
Price/Book 3.2x
Price/Cash Flow 16.6x
TEV/Sales 0.9x
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