OPENLANE (OPLN) Reports Earnings Tomorrow: What To Expect

Digital vehicle marketplace OPENLANE (NYSE:OPLN) will be reporting earnings this Tuesday before the bell. Here’s what you need to know.

OPENLANE beat analysts’ revenue expectations last quarter, reporting revenues of $494.3 million, up 8.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ full-year EPS guidance estimates.

Is OPENLANE a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting OPENLANE’s revenue to grow 7% year on year, in line with the 7% increase it recorded in the same quarter last year.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. OPENLANE has a history of exceeding Wall Street’s expectations.

Looking at OPENLANE’s peers in the business services & supplies segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CECO Environmental delivered year-on-year revenue growth of 16.5%, beating analysts’ expectations by 4.1%, and Tetra Tech reported a revenue decline of 4.9%, topping estimates by 4.8%. CECO Environmental traded up 11.6% following the results while Tetra Tech was also up 1.4%.

Read our full analysis of CECO Environmental’s results here and Tetra Tech’s results here.

There has been positive sentiment among investors in the business services & supplies segment, with share prices up 10.1% on average over the last month. OPENLANE is up 6.4% during the same time and is heading into earnings with an average analyst price target of $33.83 (compared to the current share price of $31.60).

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