Openlane Q4 2023 Adj EPS $0.16 Beats $0.13 Estimate, Sales $391.30M Miss $393.07M Estimate
Portfolio Pulse from Benzinga Newsdesk
Openlane (NYSE:KAR) reported Q4 2023 earnings of $0.16 per share, surpassing the $0.13 estimate by 23.08%. However, their sales of $391.30M fell short of the $393.07M estimate by 0.45%, marking a 4.96% increase from the previous year.

February 20, 2024 | 9:20 pm
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Openlane reported higher-than-expected Q4 earnings but slightly missed sales estimates, showing a 4.96% year-over-year sales increase.
Beating EPS estimates typically has a positive impact on stock prices as it indicates better-than-expected profitability. The slight miss on sales estimates may temper the positive impact, but the overall growth in sales compared to the previous year suggests a positive trajectory for the company. Therefore, the short-term impact on KAR's stock price is likely to be positive, albeit with some caution due to the sales miss.
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