Openlane Inc (NYSE:KAR)
$ 20.5 0.17 (0.84%) Market Cap: 2.19 Bil Enterprise Value: 2.39 Bil PE Ratio: 110.22 PB Ratio: 1.65 GF Score: 75/100
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KAR Auction Services Inc at Stephens Investor Conference Transcript

Nov 14, 2019 / 02:15PM GMT
Release Date Price: $22.79 (+4.06%)
Daniel Robert Imbro
Stephens Inc., Research Division - Research Analyst

Jump right into it here. Thank you all for joining us. We have -- I'm Daniel Imbro, Retail Broadlines analyst with Stephens. Pleased to be joined by KAR Auction Services here this morning. Joined by VP of IR, Michael Eliason, obviously, we have a number of questions we'll get to today, Mike.

But maybe starting at a high level, been a lot of change in the business. The recent spend, maybe for those newer to the story. Start at a high level -- give an overview of the business today, what the portfolio looks like, and we can go from there?

Michael Eliason
KAR Auction Services, Inc. - VP of IR & Treasurer

Yes, sure. Thanks for showing up -- good room. So we are, for those of you who don't know a lot about us. In a very quick elevator speech, we're the New York Stock Exchange of used vehicles in the wholesale marketplace. So we bring buyers/sellers together, think of us as a network effect of the company, where we're taking -- creating market, not investing in inventory or

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