OPENLANE, Inc. (OPLN) Presents at J.P. Morgan Automotive Conference Transcript

SA Transcripts 161.78K Followers Follow OPENLANE, Inc. ( OPLN ) J.P. Morgan Automotive Conference August 12, 2026 2:20 PM EDT Company Participants Peter Kelly - CEO & Director Bradley Herring - Executive VP & CFO Conference Call Participants Rajat Gupta - JPMorgan Chase & Co, Research Division Presentation Rajat Gupta JPMorgan Chase & Co, Research Division I think we're ready to get started here. So thanks, everyone, for joining. My name is Rajat Gupta. I'm member of the automotive equity research team at JPMorgan. Very pleased to have with us the team from OPENLANE, Peter Kelly, CEO; Brad Herring, CFO. Thanks so much for being here. Peter Kelly CEO & Director Thank you, Rajat. Delighted to be here. Question-and-Answer Session Rajat Gupta JPMorgan Chase & Co, Research Division Maybe I think I'll get like the 2 most topical questions out of the way quickly. Firstly, I mean, do you see a reason or do you see industrial logic for consolidation in this sector over time? Is there a need? Does it make sense? Just curious to quickly get your thoughts without maybe naming any specifics. Peter Kelly CEO & Director Well, there have been some rumors. I don't want to comment on rumors, but in the abstract in terms of consolidation, I think historically, this industry was somewhat duopolistic in nature, right? If you go back to the physical auction era, there really were 2 larger players, Manheim being one, ADESA was the other. ADESA was owned by KAR. We've gone through a period where there's been maybe some more fragmentation of that. I think digital technologies came in that brought in some new players. We did a transaction where we sold ADESA to focus on a digital strategy. So today, the environment is definitely more than duopolistic. There's multiple players, 5, 6 different players. I think probably there is a rationale for some