[UPDATED WITH CORRECTION] Daily Digest – May 5. RDN Parent Announces Higher Earnings, SNAAC Details Aggressive Expansion Plans

PAR, RDN PARENT ANNOUNCES HIGHER FIRST QUARTER EARNINGS

  • The parent company of PAR North America, RDN and announced a first-quarter profit of nearly $61 million, 11% higher than what the company earned the same quarter last year. KAR Auction Services reported total revenue for the company was $745 million, up 18% from a year ago. ADESA, the auction company, accounted for $400 million of the parent’s revenue for the quarter. KAR did not break out earnings or financial results for PAR, RDN, although those units are considered to be part of ADESA.

[Correction: An earlier version of this story incorrectly identified DRN as a unit KAR Auction Services. DRN is not a unit of KAR or ADESA. DRN maintains an affiliation with RDN.]

REPOSSESSED VEHICLE HAD 100 POUNDS OF MARIJUANA HIDDEN INSIDE

SNAAC DETAILS AGGRESSIVE EXPANSION PLANS

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Mike Gibb

1 CommentLeave a comment

  • I hope repo companies see the record profits and question as to why they give free transport to auctions / clients.
    The auctions charge for delivery, and so should those who don’t. Remember the auctions make nearly triple on auction related services, than we do repoing the vehicles. Most auctions charge for transport / delivery. This is a good point to make to clients. If the Auctions make that much profit. I would suggest they pick it up for free.
    I have pointed this out to several clients, and clients have agreed to pay delivery fees. Sometimes its the angle you present your clients with.

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