KAR Auction Services, Inc. Reports First Quarter 2020 Financial Results

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Go back to KAR Auction Services, Inc. Reports First Quarter 2020 Financial Results

Kar Auction Services (KAR) Misses Q1 EPS by 7c, Revenues Beat; Withdraws FY20 Guidance, Withdraws Dividends

May 7, 2020 6:30 AM EDT

Kar Auction Services (NYSE: KAR) reported Q1 EPS of $0.09, $0.07 worse than the analyst estimate of $0.16. Revenue for the quarter came in at $689.6 million versus the consensus estimate of $649.22 million.

Impact of COVID-19 on Company Operations

On March 16, 2020, in response to the COVID-19 pandemic, the company announced that it was modifying its North American auction processes and would be holding auctions online only... More