$KAR Q2 '26 Earnings Results & Recap
• Reported GAAP EPS of $0.33 up 106.25% YoY
• Reported revenue of $554.6M up 15.13% YoY
• OPENLANE is raising its 2026 full-year guidance, now projecting net income of $163 million to $176 million and consolidated Adjusted EBITDA in the range of $385 million to $400 million.
$CPRT the other problem is cyclical headwinds outlined by Jay on the call re drivers carrying less insurance because of high cost of comprehensive ie less cars turned into total loss/salvage by insurers
losing share to RBA re Progressive, maybe others?
Autonomous will be a problem too -- less car collisions.
CPRT really does need to expand into whole car, yellow iron, etc imo
for that reason -- seems like $RBA is better set up here (chart looks way better imo) and maybe smaller whole car auction platforms like $ACVA and $KAR
$CPRT clearly feeling short term pain re surprise return of Jay Adair. It is almost guaranteed there are some big market share losses to $RBA .. not an expert but seems like it takes quite a while re competitive bake off etc to displace an incumbent and the deals last long time -- several years at least with a ramp period until insurance volumes run at 100% from carrier partners ..
Seems like RBA could pump over 120 finally -- and $ACVA could be an acquisition target by Copart to build out the wholesale auction biz to make up for salvage auction market share losses?
Wonder ultimately what happens to $KAR Openlane -- seems like that should be acquired too?
Maybe ACVA + Openlane one each goes to RBA/CPRT ... they gotta compete with Manheim
$KAR this is EXACTLY what happened and there was enough strength to smash the $31 mega resistance caused by exercisable warrants. I remember a wick to $30.99 🤷🏼♂️
$CPRT I find the new CEO to be too stodgy, kind of a boring guy. That is fine, CPRT is kind of a boring business -- but they really should stop buying land and start thinking about buying something like $ACVA or $KAR to move faster into wholesale car space or acquire rest of Purple Wave for yellow iron play. I will be interested to see if they keep up the $1.3 billion quarterly buyback pace for another couple quarters. They can buy back ~10% of the company. Still think CPRT probably on way to 25 zone myself.
