NYSE:OPLNCommercial Services
OPENLANE (KAR) Stock Drops Despite Profit Gains And Higher Guidance
OPENLANE came into this earnings print with the stock drifting, up over the past three months yet slightly down over the past week and month. The immediate reaction told a different story. Shares slipped about 3% to just above US$40 even as the company reported Q2 revenue of US$554.6 million and basic earnings per share of US$0.33.
The headline in this quarter is profit quality. OPENLANE kept net income for the quarter at US$37.6 million while lifting revenue, and management raised full year...