Kar auction services, inc. reports second quarter 2022 financial results

Kar completed the sale of its adesa u.s. physical auction business to carvana and is using the proceeds to reduce debt the company has over $800 million of available cash as of june 30, 2022 the company is concurrently announcing a tender offer to purchase up to $600 million principal amount of senior notes repurchased $82 million of common stock in the second quarter the company's performance was impacted by reductions in conversion rates across its marketplaces carmel, ind. , aug. 2, 2022 /prnewswire/ -- kar auction services, inc. (nyse: kar) today reported its second quarter financial results for the period ended june 30, 2022.
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