OPENLANE, Inc. Files 8-K on Financials
Ticker: OPLN · Form: 8-K · Filed: Aug 7, 2024 · CIK: 1395942
Sentiment: neutral
Topics: financial-results, 8-K, company-name-change
TL;DR
OPENLANE dropped its 8-K with financial results, formerly KAR Auction Services.
AI Summary
OPENLANE, Inc. filed an 8-K on August 7, 2024, to report on its results of operations and financial condition. The filing includes financial statements and exhibits related to the company's performance. OPENLANE, Inc. was formerly known as KAR Auction Services, Inc. and KAR Holdings, Inc.
Why It Matters
This 8-K filing provides investors with updated financial information and operational results for OPENLANE, Inc., allowing for a more informed assessment of the company's current performance and future prospects.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of financial results and does not indicate any unusual or significant risks.
Key Players & Entities
- OPENLANE, Inc. (company) — Registrant
- KAR Auction Services, Inc. (company) — Former company name
- KAR Holdings, Inc. (company) — Former company name
- August 7, 2024 (date) — Date of report
FAQ
What is the primary purpose of this 8-K filing for OPENLANE, Inc.?
The primary purpose of this 8-K filing is to report on OPENLANE, Inc.'s results of operations and financial condition, including financial statements and exhibits.
When was this 8-K report filed?
This 8-K report was filed on August 7, 2024.
What were OPENLANE, Inc.'s previous names?
OPENLANE, Inc. was formerly known as KAR Auction Services, Inc. and KAR Holdings, Inc.
Where is OPENLANE, Inc.'s principal executive office located?
OPENLANE, Inc.'s principal executive office is located at 11299 N. Illinois Street, Suite 500, Carmel, Indiana 46032.
What is the SIC code for OPENLANE, Inc.?
The Standard Industrial Classification (SIC) code for OPENLANE, Inc. is 5500, which corresponds to RETAIL-AUTO DEALERS & GASOLINE STATIONS.
Filing Stats: 654 words · 3 min read · ~2 pages · Grade level 9.5 · Accepted 2024-08-07 16:15:16
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share KAR New York Stock Exchange
Filing Documents
- kar-20240807.htm (8-K) — 28KB
- exhibit991-q22024earningsr.htm (EX-99.1) — 346KB
- exhibit992-q22024ersupplem.htm (EX-99.2) — 376KB
- earningsslidesq22024-fin.htm (EX-99.3) — 23KB
- earningsslidesq22024-fin001.jpg (GRAPHIC) — 64KB
- earningsslidesq22024-fin002.jpg (GRAPHIC) — 155KB
- earningsslidesq22024-fin003.jpg (GRAPHIC) — 104KB
- earningsslidesq22024-fin004.jpg (GRAPHIC) — 53KB
- earningsslidesq22024-fin005.jpg (GRAPHIC) — 121KB
- earningsslidesq22024-fin006.jpg (GRAPHIC) — 120KB
- earningsslidesq22024-fin007.jpg (GRAPHIC) — 114KB
- earningsslidesq22024-fin008.jpg (GRAPHIC) — 89KB
- earningsslidesq22024-fin009.jpg (GRAPHIC) — 40KB
- earningsslidesq22024-fin010.jpg (GRAPHIC) — 112KB
- earningsslidesq22024-fin011.jpg (GRAPHIC) — 133KB
- earningsslidesq22024-fin012.jpg (GRAPHIC) — 37KB
- earningsslidesq22024-fin013.jpg (GRAPHIC) — 191KB
- earningsslidesq22024-fin014.jpg (GRAPHIC) — 95KB
- earningsslidesq22024-fin015.jpg (GRAPHIC) — 105KB
- earningsslidesq22024-fin016.jpg (GRAPHIC) — 96KB
- earningsslidesq22024-fin017.jpg (GRAPHIC) — 106KB
- earningsslidesq22024-fin018.jpg (GRAPHIC) — 131KB
- kar-20240807_g1.jpg (GRAPHIC) — 32KB
- openlanelogo2023.jpg (GRAPHIC) — 32KB
- 0001395942-24-000058.txt ( ) — 3644KB
- kar-20240807.xsd (EX-101.SCH) — 2KB
- kar-20240807_lab.xml (EX-101.LAB) — 21KB
- kar-20240807_pre.xml (EX-101.PRE) — 12KB
- kar-20240807_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On August 7, 2024, OPENLANE, Inc. ("OPENLANE" or the "Company") issued a press release announcing its financial results for the three and six months ended June 30, 2024. OPENLANE will host an earnings conference call and webcast, Wednesday, August 7, 2024 at 5:00 p.m., Eastern Time. The conference call may be accessed by calling 1-833-634-2155 and asking to join the OPENLANE call, and the live webcast may be accessed at the investor relations section of corporate.openlane.com. The call will be hosted by OPENLANE Chief Executive Officer Peter Kelly and Chief Financial Officer Brad Lakhia. The call will feature a review of operating highlights and financial results for the three and six months ended June 30, 2024. The press release dated August 7, 2024 is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference in its entirety. On August 7, 2024, OPENLANE also posted supplemental financial information for the three and six months ended June 30, 2024, and Earnings Slides for the three and six months ended June 30, 2024. The supplemental financial information and Earnings Slides can be located at the investor relations section of corporate.openlane.com. The supplemental financial information and Earnings Slides posted on August 7, 2024 are attached to this Current Report on Form 8-K as Exhibits 99.2 and 99.3, respectively, and are incorporated herein by reference in their entirety.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits EXHIBIT NO. DESCRIPTION OF EXHIBIT 99.1 Press release dated August 7 , 2024 – "OPENLANE, Inc. Reports Second Quarter 2024 Financial Results" 99.2 OPENLANE, Inc. Second Quarter 2024 Supplemental Financial Information – August 7 , 2024 99.3 OPENLANE, Inc. Second Quarter 2024 Earnings Slides – August 7 , 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: August 7, 2024 OPENLANE, Inc. /s/ BRAD S. LAKHIA Brad S. Lakhia Executive Vice President and Chief Financial Officer