OPENLANE Inc. (NYSE: KAR), a leading player in the automotive auction and remarketing industry, witnessed a significant surge of 5.23% in its stock price during the pre-market trading session on Thursday. This rally was fueled by the company's impressive fourth-quarter 2024 financial results and an optimistic outlook for the year 2025.
The catalyst behind this upward movement was OPENLANE's robust financial performance in Q4 2024. The company reported a 12% year-over-year increase in consolidated revenue to $455 million, driven by solid growth in its Marketplace segment, where revenue rose 8% to $349 million. Additionally, adjusted EBITDA soared 18% to $73 million for the quarter, showcasing the company's operational efficiency and margin expansion.
OPENLANE's management team expressed confidence in the company's growth prospects, forecasting adjusted EBITDA in the range of $290 million to $310 million for 2025, along with an operating adjusted EPS between $0.90 and $1.00. This positive guidance, coupled with the successful integration of new digital assets, divestment of physical assets, and a strengthened balance sheet, has bolstered investor sentiment and contributed to the stock's impressive performance.
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