KAR Auction Services Earnings: Here’s Why the Stock is Falling Now
KAR Auction Services, Inc. (NYSE:KAR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 4.96%.
KAR Auction Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30.77% to $0.34 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Rose 10.9% to $541.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: KAR Auction Services, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $518.72 million.
Key Stats (on next page)…