KAR Auction Services, Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - KAR Auction Services, Inc. (KAR) released a profit for its first quarter that advanced from the same period last year.

The company's bottom line came in at $90.0 million, or $0.66 per share. This compares with $69.2 million, or $0.50 per share, in last year's first quarter.

Excluding items, KAR Auction Services, Inc. reported adjusted earnings of $110.8 million or $0.82 per share for the period.

Analysts had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.7% to $950.5 million from $866.6 million last year.

KAR Auction Services, Inc. earnings at a glance:

-Earnings (Q1): $110.8 Mln. vs. $86.1 Mln. last year. -EPS (Q1): $0.82 vs. $0.62 last year. -Analysts Estimate: $0.76 -Revenue (Q1): $950.5 Mln vs. $866.6 Mln last year.

-Guidance: Full year EPS guidance: $2.89 - $3.04