Last $30.16 USD
Change Today +0.24 / 0.80%
Volume 656.2K
KAR On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

kar auction services inc (KAR) Snapshot

Open
$29.99
Previous Close
$29.92
Day High
$30.16
Day Low
$29.86
52 Week High
07/3/14 - $32.65
52 Week Low
09/3/13 - $26.71
Market Cap
4.2B
Average Volume 10 Days
576.6K
EPS TTM
$0.69
Shares Outstanding
140.5M
EX-Date
09/22/14
P/E TM
43.5x
Dividend
$1.00
Dividend Yield
3.12%
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 Seeks Acquisitions

KAR Auction Services, Inc. (NYSE:KAR) is seeking acquisitions. Jim Hallett, Chief Executive Officer of KAR Auction, "In terms of other acquisitions, I think we're always looking at different businesses, how they fit both from a strategic standpoint, as well as how they might fit from a technology standpoint and perhaps, a geographic standpoint."

KAR Auction Services, Inc. Declares Quarterly Dividend Payable on October 2, 2014; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 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 October 2, 2014, to stockholders of record as of the close of business on September 24, 2014. The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total operating revenues of $585.6 million compared to $541.4 million a year ago. Operating profit was $100.9 million compared to $81.3 million a year ago. Income before income taxes was $80.9 million compared to $56.3 million a year ago. Net income was $50.8 million or $0.36 per basic and diluted share compared to $33.4 million or $0.24 per basic and diluted share a year ago. EBITDA was $150.0 million compared to $129.8 million a year ago. Adjusted EBITDA was $154.1 million compared to $140.2 million a year ago. Adjusted net income was $60.2 million or $0.42 per diluted share compared to $47.2 million or $0.34 per diluted share a year ago. Cash flow from operations was $231.4 million. For the three months ended June 30, 2014, the company used cash of $47.3 million to purchase property, plant, equipment and computer software. For the six months, the company reported total operating revenues of $1,169.4 million compared to $1,099.0 million a year ago. Operating profit was $185.3 million compared to $159.4 million a year ago. Income before income taxes was $111.4 million compared to $102.4 million a year ago. Net income was $71.5 million or $0.51 per diluted share compared to $62.5 million or $0.45 per diluted share a year ago. EBITDA was $252.7 million compared to $251.9 million a year ago. Adjusted EBITDA was $301.2 million compared to $276.4 million a year ago. Adjusted net income was $116.6 million or $0.83 per diluted share compared to $90.8 million or $0.65 per diluted share a year ago. The company continues to expect 2014 adjusted EBITDA of $580 - $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, assuming an effective tax rate of 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 - $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.

KAR Auction Services, Inc. to Report Q2, 2014 Results on Aug 05, 2014

KAR Auction Services, Inc. announced that they will report Q2, 2014 results on Aug 05, 2014

 

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Industry Analysis

KAR

Industry Average

Valuation KAR Industry Range
Price/Earnings 55.6x
Price/Sales 1.9x
Price/Book 2.8x
Price/Cash Flow 15.6x
TEV/Sales 0.6x
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