Online used-car retailer OPENLANE Q3 revenue rises on auction fee growth
KAR•KAR•KAR•KAR•OPENLANE’s third-quarter revenue rose 13% year over year, driven by an 18% increase in auction and related fees, while adjusted EBITDA climbed 23% to $107 million. The company raised its 2026 adjusted EBITDA outlook and increased its share repurchase authorization to $400 million.
OPENLANE reported third-quarter revenue growth of 13% year over year, driven by an 18% increase in auction and related fees. Adjusted EBITDA rose 23% to $107 million, and net income was $44.70 million.
Marketplace commercial vehicles sold grew 46% year over year, while U.S. dealer vehicles sold increased 22%; overall dealer vehicle sales rose 10%. OPENLANE raised its 2026 adjusted EBITDA outlook to $390 million-$400 million from $385 million-$400 million, narrowed net income guidance to $169 million-$177 million from $163 million-$176 million, and now expects operating adjusted EPS of $1.45-$1.52, up from $1.40-$1.50.
The company increased its share repurchase authorization to $400 million, with $250 million remaining.
