Kar Auction Services (KAR) Tops Q1 EPS by 6c, Updates FY Guidance

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KAR Auction Services, Inc. Reports First Quarter 2016 Financial Results

May 3, 2016 4:15 PM EDT

CARMEL, IN -- (Marketwired) -- 05/03/16 -- KAR Auction Services, Inc. (NYSE: KAR), today reported its first quarter financial results for the period ended March 31, 2016. For the first quarter of 2016, the company reported revenue of $745.0 million as compared with revenue of $632.4 million for the first quarter of 2015, an increase of 18%. Net income for the first quarter of 2016 increased 11% to $60.7 million, or $0.44 per diluted share, as compared with net income of $54.5 million, or $0.38 per diluted share, in the first quarter of 2015. Adjusted EBITDA for the quarter ended March 31, 2016 increased 17% to $189.5 million, as compared with Adjusted EBITDA... More