Latest Kar Auction Services Inc (KAR) Headlines
KAR Auction Services Amends and Restates Credit Agreement
Marketwire - Tue Mar 11, 4:36PM CDT
KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today that it has amended and restated its credit agreement dated as of May 19, 2011. The term loans under the original credit agreement have been repaid in full and terminated, and refinanced with a $650 million three-year senior secured term loan B-1 facility and a $1,120 million seven-year senior secured term loan B-2 facility. In addition, the amended and restated credit agreement also establishes a five-year $250 million revolving credit facility in place of the previous revolving commitments. The interest rate of term loan B-1 was reduced to LIBOR plus 2.50%. The interest rate of term loan B-2 remains at LIBOR plus 2.75% but the LIBOR floor was reduced to 0.75%. The reduction in pricing is expected to save the Company an annualized amount of approximately $9 million in cash interest. The revolving commitments may be used for ongoing working capital needs and general corporate purposes for the Company and its subsidiaries. The Company has not drawn any amounts under the revolver.
KAR Auction Services, Inc. Announces Participation in Upcoming Investor Conference
Marketwire - Fri Feb 28, 7:30AM CST
KAR Auction Services, Inc. (NYSE: KAR) today announced its participation in the following investor conference which will also be available via live audio webcast:
Research and Markets: Periodontitis - Pipeline Review, H2 2013 Research Report
Business Wire - Fri Feb 21, 2:48AM CST
Research and Markets (http://www.researchandmarkets.com/research/54674r/periodontitis) has announced the addition of the "Periodontitis - Pipeline Review, H2 2013" report to their offering.
KAR Auction Services IncCorporate Event Announcement Notice
Wall Street Horizon - Wed Feb 19, 8:09PM CST
Return On Innovation Advisors Ltd. (the "Manager") announced today that a monthly cash distribution of $0.050 per unit will be paid on March 15, 2013 to unitholders of ROI Canadian High Income Mortgage Fund (TSX: RIH.UN) of record as of February 28, 2013.
Barbarian At The Gate: KAR Auction Services (KAR)
at The Street - Wed Feb 19, 9:32AM CST
Trade-Ideas LLC identified KAR Auction Services (KAR) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate
1-800-Flowers.com (FLWS) Crumbles: Stock Falls by 6% - Tale of the Tape
Zacks Equity Research - Zacks Investment Research - Wed Feb 19, 8:00AM CST
1-800-Flowers.com Inc. (FLWS) saw a big move last session, reversing the recent trend for FLWS, as the stock is now up more than 5% since Jan 29.
KAR Auction Services Seeks to Refinance Credit Agreement
Marketwire - Tue Feb 18, 4:32PM CST
KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today that it is seeking to refinance its existing Credit Agreement, dated as of May 19, 2011 (as amended, the "Credit Agreement"), that would, among other things, extend the maturity of the revolving facility and a portion of the term facility, lower the pricing with respect to the revolving and term loan facilities and provide the Company with greater flexibility for making capital expenditures and for making restricted payments. The Company cannot assure that it will be able to successfully complete the refinancing.
KAR Auction Services, Inc. Reports Fourth Quarter and Full Year 2013 Results
Marketwire - Tue Feb 18, 4:31PM CST
KAR Auction Services, Inc. (NYSE: KAR) today reported its fourth quarter financial results for the period ended December 31, 2013. For the fourth quarter of 2013, the company reported revenue of $540.6 million as compared with revenue of $493.7 million for the fourth quarter of 2012, an increase of 9%. Adjusted EBITDA for the quarter ended December 31, 2013 increased 9% to $131.2 million, as compared with Adjusted EBITDA of $119.9 million for the quarter ended December 31, 2012. The company reported a net loss for the fourth quarter of 2013 of $17.6 million, or $0.13 per diluted share, as compared with net income of $22.9 million, or $0.16 per diluted share in the fourth quarter of 2012. The net loss for the fourth quarter of 2013 was primarily the result of non-cash profit interest expense, which is not deductible for income tax purposes. Adjusted net income per share for the quarter ended December 31, 2013 decreased 4% to $0.26 versus adjusted net income per share of $0.27 for the quarter ended December 31, 2012.
IAA's Bill Mayer Re-Elected To National Auto Body Council Board Of Directors
PR Newswire - Tue Feb 18, 10:00AM CST
Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced that Bill Mayer, IAA's director of Industry Relations, has been re-elected to the Board of Directors of the National Auto Body Council (NABC), a non-profit organization dedicated to enhancing the image of the collision industry. Mr. Mayer was re-elected for a second three-year term by NABC members during the 2013 SEMA Show in Las Vegas.
Cabela's Misses on Q4 Earnings - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Fri Feb 14, 12:10PM CST
Cabela's fourth quarter adjusted earnings of $1.32 per share missed the Zacks Consensus Estimate of $1.41 but rose 5.6% year over year.
Cabela's (CAB) in Focus: Stocks Tumbles 7.9% - Tale of the Tape
Zacks Equity Research - Zacks Investment Research - Fri Feb 14, 7:50AM CST
Shares of Cabela’s fell over 9% yesterday, continuing its downtrend in the past one-month time frame
IAA's Rita Figi Nominated To American Heart Association's Chicago Metropolitan Board Of Directors
PR Newswire - Thu Feb 13, 9:05AM CST
Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced that Rita Figi, IAA's vice president of human resources, has been nominated to the Chicago Metropolitan Board of Directors of the American Heart Association, Midwest Affiliate for a two-year term. In this role, Figi will help lead the achievement of the association's mission to build healthier lives, free of cardiovascular diseases and stroke through oversight of local revenue generation and health impact activities.
IFF Reports Strong Fourth Quarter and Full Year 2013 Results
Business Wire - Thu Feb 13, 6:00AM CST
--Full Year Local Currency Sales Growth of 5%; Reported Sales Growth of 5%
Insurance Auto Auctions Expands Presence In Shreveport And Fargo
PR Newswire - Tue Feb 11, 12:00PM CST
Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced the opening of a new branch in Shreveport, LA and the relocation of its Fargo, ND branch to a brand new facility. The openings further demonstrate IAA's expansive footprint of more than 160 locations across North America.
DICK's Sporting Raises Forecast, Shares Up - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Tue Feb 11, 7:17AM CST
DICK's Sporting Goods Inc. upped its fourth quarter and fiscal 2013 earnings forecast citing higher-than-anticipated comparable store sales results from an otherwise short and promotional holiday season.
Tractor Supply Reward-Risk Balanced - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Mon Feb 10, 3:50PM CST
We reiterate our long-term Neutral recommendation on Tractor Supply Company with a target price of $68.
KAR Auction Services, Inc. to Announce Fourth Quarter and Full Year 2013 Earnings
Marketwire - Tue Feb 04, 9:33AM CST
KAR Auction Services, Inc. (NYSE: KAR) announced today that it will be releasing its fourth quarter and full year 2013 earnings on Tuesday, February 18, 2014.
Insurance Auto Auctions Recognized As A Finalist In The Best Customer App Category At Premier CITE Awards
PR Newswire - Tue Feb 04, 9:00AM CST
Insurance Auto Auctions, Inc. (IAA) the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), has been named by IDG's CITEworld as a finalist in the 2014 CITE Awards program. The inaugural awards program spotlights leading organizations for their innovative use of consumer-inspired technology in one of six award categories.
Tractor Supply Q4 Earnings Beat - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Thu Jan 30, 8:30AM CST
Tractor Supply Company reported fourth-quarter 2013 earnings per share of 68 cents, which was 23.6% higher than the prior-year quarter and beat the Zacks Consensus Estimate by 4.6%.
KAR Auction Services Amends and Restates Credit Agreement
Marketwire - Tue Mar 11, 4:36PM CDT
KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today that it has amended and restated its credit agreement dated as of May 19, 2011. The term loans under the original credit agreement have been repaid in full and terminated, and refinanced with a $650 million three-year senior secured term loan B-1 facility and a $1,120 million seven-year senior secured term loan B-2 facility. In addition, the amended and restated credit agreement also establishes a five-year $250 million revolving credit facility in place of the previous revolving commitments. The interest rate of term loan B-1 was reduced to LIBOR plus 2.50%. The interest rate of term loan B-2 remains at LIBOR plus 2.75% but the LIBOR floor was reduced to 0.75%. The reduction in pricing is expected to save the Company an annualized amount of approximately $9 million in cash interest. The revolving commitments may be used for ongoing working capital needs and general corporate purposes for the Company and its subsidiaries. The Company has not drawn any amounts under the revolver.
KAR Auction Services, Inc. Announces Participation in Upcoming Investor Conference
Marketwire - Fri Feb 28, 7:30AM CST
KAR Auction Services, Inc. (NYSE: KAR) today announced its participation in the following investor conference which will also be available via live audio webcast:
Research and Markets: Periodontitis - Pipeline Review, H2 2013 Research Report
Business Wire - Fri Feb 21, 2:48AM CST
Research and Markets (http://www.researchandmarkets.com/research/54674r/periodontitis) has announced the addition of the "Periodontitis - Pipeline Review, H2 2013" report to their offering.
KAR Auction Services IncCorporate Event Announcement Notice
Wall Street Horizon - Wed Feb 19, 8:09PM CST
Return On Innovation Advisors Ltd. (the "Manager") announced today that a monthly cash distribution of $0.050 per unit will be paid on March 15, 2013 to unitholders of ROI Canadian High Income Mortgage Fund (TSX: RIH.UN) of record as of February 28, 2013.
Barbarian At The Gate: KAR Auction Services (KAR)
at The Street - Wed Feb 19, 9:32AM CST
Trade-Ideas LLC identified KAR Auction Services (KAR) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate
1-800-Flowers.com (FLWS) Crumbles: Stock Falls by 6% - Tale of the Tape
Zacks Equity Research - Zacks Investment Research - Wed Feb 19, 8:00AM CST
1-800-Flowers.com Inc. (FLWS) saw a big move last session, reversing the recent trend for FLWS, as the stock is now up more than 5% since Jan 29.
KAR Auction Services Seeks to Refinance Credit Agreement
Marketwire - Tue Feb 18, 4:32PM CST
KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today that it is seeking to refinance its existing Credit Agreement, dated as of May 19, 2011 (as amended, the "Credit Agreement"), that would, among other things, extend the maturity of the revolving facility and a portion of the term facility, lower the pricing with respect to the revolving and term loan facilities and provide the Company with greater flexibility for making capital expenditures and for making restricted payments. The Company cannot assure that it will be able to successfully complete the refinancing.
KAR Auction Services, Inc. Reports Fourth Quarter and Full Year 2013 Results
Marketwire - Tue Feb 18, 4:31PM CST
KAR Auction Services, Inc. (NYSE: KAR) today reported its fourth quarter financial results for the period ended December 31, 2013. For the fourth quarter of 2013, the company reported revenue of $540.6 million as compared with revenue of $493.7 million for the fourth quarter of 2012, an increase of 9%. Adjusted EBITDA for the quarter ended December 31, 2013 increased 9% to $131.2 million, as compared with Adjusted EBITDA of $119.9 million for the quarter ended December 31, 2012. The company reported a net loss for the fourth quarter of 2013 of $17.6 million, or $0.13 per diluted share, as compared with net income of $22.9 million, or $0.16 per diluted share in the fourth quarter of 2012. The net loss for the fourth quarter of 2013 was primarily the result of non-cash profit interest expense, which is not deductible for income tax purposes. Adjusted net income per share for the quarter ended December 31, 2013 decreased 4% to $0.26 versus adjusted net income per share of $0.27 for the quarter ended December 31, 2012.
IAA's Bill Mayer Re-Elected To National Auto Body Council Board Of Directors
PR Newswire - Tue Feb 18, 10:00AM CST
Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced that Bill Mayer, IAA's director of Industry Relations, has been re-elected to the Board of Directors of the National Auto Body Council (NABC), a non-profit organization dedicated to enhancing the image of the collision industry. Mr. Mayer was re-elected for a second three-year term by NABC members during the 2013 SEMA Show in Las Vegas.
Cabela's Misses on Q4 Earnings - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Fri Feb 14, 12:10PM CST
Cabela's fourth quarter adjusted earnings of $1.32 per share missed the Zacks Consensus Estimate of $1.41 but rose 5.6% year over year.
Cabela's (CAB) in Focus: Stocks Tumbles 7.9% - Tale of the Tape
Zacks Equity Research - Zacks Investment Research - Fri Feb 14, 7:50AM CST
Shares of Cabela’s fell over 9% yesterday, continuing its downtrend in the past one-month time frame
IAA's Rita Figi Nominated To American Heart Association's Chicago Metropolitan Board Of Directors
PR Newswire - Thu Feb 13, 9:05AM CST
Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced that Rita Figi, IAA's vice president of human resources, has been nominated to the Chicago Metropolitan Board of Directors of the American Heart Association, Midwest Affiliate for a two-year term. In this role, Figi will help lead the achievement of the association's mission to build healthier lives, free of cardiovascular diseases and stroke through oversight of local revenue generation and health impact activities.
IFF Reports Strong Fourth Quarter and Full Year 2013 Results
Business Wire - Thu Feb 13, 6:00AM CST
--Full Year Local Currency Sales Growth of 5%; Reported Sales Growth of 5%
Insurance Auto Auctions Expands Presence In Shreveport And Fargo
PR Newswire - Tue Feb 11, 12:00PM CST
Insurance Auto Auctions, Inc. (IAA), the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), today announced the opening of a new branch in Shreveport, LA and the relocation of its Fargo, ND branch to a brand new facility. The openings further demonstrate IAA's expansive footprint of more than 160 locations across North America.
DICK's Sporting Raises Forecast, Shares Up - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Tue Feb 11, 7:17AM CST
DICK's Sporting Goods Inc. upped its fourth quarter and fiscal 2013 earnings forecast citing higher-than-anticipated comparable store sales results from an otherwise short and promotional holiday season.
Tractor Supply Reward-Risk Balanced - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Mon Feb 10, 3:50PM CST
We reiterate our long-term Neutral recommendation on Tractor Supply Company with a target price of $68.
KAR Auction Services, Inc. to Announce Fourth Quarter and Full Year 2013 Earnings
Marketwire - Tue Feb 04, 9:33AM CST
KAR Auction Services, Inc. (NYSE: KAR) announced today that it will be releasing its fourth quarter and full year 2013 earnings on Tuesday, February 18, 2014.
Insurance Auto Auctions Recognized As A Finalist In The Best Customer App Category At Premier CITE Awards
PR Newswire - Tue Feb 04, 9:00AM CST
Insurance Auto Auctions, Inc. (IAA) the leading live and live-online salvage auto auction company and wholly-owned subsidiary of KAR Auction Services, Inc. (NYSE: KAR), has been named by IDG's CITEworld as a finalist in the 2014 CITE Awards program. The inaugural awards program spotlights leading organizations for their innovative use of consumer-inspired technology in one of six award categories.
Tractor Supply Q4 Earnings Beat - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Thu Jan 30, 8:30AM CST
Tractor Supply Company reported fourth-quarter 2013 earnings per share of 68 cents, which was 23.6% higher than the prior-year quarter and beat the Zacks Consensus Estimate by 4.6%.
