Increase in Average Selling Prices
Global insurance ASPs increased 6.8%, and U.S. insurance ASP increased 8.4%, eclipsing the growth rate of the Manheim Used Vehicle Value Index.
Strong Auction Liquidity
Indicators such as higher pure sale rates, expanding international demand, greater bidder participation, and rising gross returns are showing a durable competitive advantage.
Robust Financial Performance
Consolidated revenue grew 2.9% excluding catastrophic events, reaching $1.16 billion. Operating income rose 6% and net income increased by 11.5% to $404 million. Earnings per diluted share increased 10.8% to $0.41.
Growth in Non-Insurance Business
Dealer unit sales increased 5.3%, and the Purple Wave platform experienced GTV growth of over 10%.
Strong Balance Sheet
Ended the quarter with liquidity of approximately $6.5 billion, including $5.2 billion in cash and no debt.