CARMEL, Ind. (AP) 鈥� CARMEL, Ind. (AP) 鈥� OPENLANE, Inc. (OPLN) on Tuesday reported second-quarter net income of $44.3 million.
The Carmel, Indiana-based company said it had profit of 32 cents per share. Earnings, adjusted for non-recurring costs, were 40 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The used and salvaged vehicle auctioneer posted revenue of $554.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $521.5 million.
OPENLANE expects full-year earnings in the range of $1.40 to $1.50 per share.
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