OPENLANE, Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - OPENLANE, Inc. (KAR) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $28.4 million, or $0.12 per share. This compares with $12.7 million, or $0.01 per share, in last year's third quarter.

Excluding items, OPENLANE, Inc. reported adjusted earnings of $37.0 million or $0.26 per share for the period.

Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $448.4 million from $416.3 million last year.

OPENLANE, Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $28.4 Mln. vs. $12.7 Mln. last year. -EPS (Q3): $0.12 vs. $0.01 last year. -Revenue (Q3): $448.4 Mln vs. $416.3 Mln last year.

-Guidance: Full year EPS guidance: $0.81 - $0.87