FORT LAUDERDALE, Fla., Nov. 12, 2024 /PRNewswire/ -- For more than a decade, AutoNation (NYSE: AN) has donated and raised more than $40M to advance life-saving cancer research and treatment to help create the possibility of a cancer-free world. Through Drive Pink (DRV PNK), AutoNation's largest social impact program, throughout October, the company extended its year-round commitment to supporting cancer-fighting organizations through its 8th Annual DRV PNK Across America campaign. "Each day at AutoNation, ...

Shares of AutoNation, Inc. (AN) fell 3.7% since the company reported third-quarter 2024 results. It reported adjusted earnings of $4.02 per share, which decreased 27% year over year and missed the Zacks Consensus Estimate of $4.48. In the third quarter, revenues amounted to $6.59 billion, which missed the Zacks Consensus Estimate of $6.73 billion and declined from $6.89 billion reported in the third quarter of 2023.Stay up-to-date with the quarterly releases: See Zacks Earnings Calendar.Key TakeawaysIn the ...

FORT LAUDERDALE, Fla., Oct. 29, 2024 /PRNewswire/ -- In respect and recognition of their contributions to our nation, this Veteran's Day AutoNation (NYSE: AN) salutes the generations of patriots who selflessly defend our country's values and freedom with an exclusive 20% discount on all services in-store at AutoNationbranded locations* nationwide and conveniently at your preferred location via AutoNation Mobile Service** from November 11th - 16th, 2024. "We owe an incredible debt to the brave men and women ...

Financial Performance - Net income for the three months ended September 30, 2024, was $185.8 million, with diluted earnings per share of $4.61, compared to $243.7 million and $5.54 in the same period of 2023[128]. - Total revenue for the three months ended September 30, 2024, was $6,586.1 million, a decrease of 4.4% compared to $6,892.7 million in the same period of 2023[143]. - Total gross profit for the three months ended September 30, 2024, was $1,182.8 million, down 8.6% from $1,294.6 million in the same period of 2023[143]. - Operating income for the three months ended September 30, 2024, was $350.7 million, a decrease of 16.4% from $419.5 million in 2023[143]. - Total revenue for the first nine months of 2024 was $5,563.3 million, down 9.8% from $6,169.4 million in the same period of 2023[166]. Vehicle Sales and Inventory - For the nine months ended September 30, 2024, new vehicle sales accounted for 47% of total revenue and 16% of total gross profit[124]. - The company experienced a 2% decrease in U.S. industry retail new vehicle unit sales in Q3 2024 compared to Q3 2023[125]. - Retail vehicle unit sales for new vehicles increased by 2.0% to 62,890 units, while used vehicle sales decreased by 9.8% to 64,071 units[149]. - The new vehicle inventory at September 30, 2024, was 46,090 units, up from 27,544 units in 2023[131]. - Inventory days supply for new vehicles increased to 52 days in September 2024 from 31 days in September 2023[145]. Revenue Breakdown - New vehicle revenue decreased by $16.4 million (0.5%) to $3,171.2 million for the three months ended September 30, 2024, compared to $3,187.6 million in 2023[143]. - Retail used vehicle revenue decreased by $283.7 million (14.0%) to $1,741.4 million for the three months ended September 30, 2024, compared to $2,025.1 million in 2023[143]. - Parts and service operations contributed 47% of total gross profit despite comprising only 18% of total revenue[124]. - Parts and service revenue accounted for 17.8% of total revenue for the three months ended September 30, 2024, compared to 16.8% in 2023[146]. - The finance and insurance segment reported a net revenue of $328.7 million, down 9.9% from $364.8 million in the previous year[149]. Profit Margins - New vehicle gross profit margin decreased to 5.6% for the three months ended September 30, 2024, compared to 7.9% in 2023[146]. - Used vehicle gross profit margin for retail was 6.1% for the three months ended September 30, 2024, down from 6.3% in 2023[146]. - The gross profit margin for new vehicles decreased to 15.1% from 19.6% in the prior year, indicating a decline in profitability[151]. - Total variable operations gross profit per vehicle retailed decreased by 13.9% to $4,769 for the three months ended September 30, 2024, compared to $5,540 in 2023[143]. Expenses and Financial Position - SG&A expenses decreased to $811.3 million for the three months ended September 30, 2024, from $819.3 million in 2023, a 1.0% decrease[208]. - Floorplan interest expense increased to $60.5 million for the three months ended September 30, 2024, from $38.3 million in 2023, a rise of 57.9%[213]. - The effective income tax rate was 24.9% for the three months ended September 30, 2024, compared to 25.6% for the same period in 2023[218]. - The company reported a total of $3,603.3 million in long-term debt as of September 30, 2024, compared to $3,612 million at December 31, 2023[234]. - As of September 30, 2024, the company had cash and cash equivalents of $60.2 million, down from $60.8 million at December 31, 2023[225]. Strategic Initiatives and Market Conditions - The company is investing significantly in strategic initiatives, including the planned expansion of AutoNation USA stores and AutoNation Finance business[249]. - The automotive retail industry is sensitive to changing economic conditions, including unemployment levels and consumer confidence, which could impact vehicle sales levels[248]. - The CDK outage negatively impacted vehicle sales, inventory, and customer relationship management functions, affecting both domestic and import revenues[195]. - The CDK cyber incident negatively impacted earnings per share by approximately $0.21 for the quarter ended September 30, 2024[130]. - The company did not acquire any stores during the nine months ended September 30, 2024, but divested seven Domestic stores and one Import store during the same period[231].

AutoNation, Inc. (NYSE:AN) Q2 2024 Earnings Call Transcript October 25, 2024 9:00 AM ET Company Participants Derek Fiebig - Vice President of Investor Relations Mike Manley - Chief Executive Officer and Director Tom Szlosek - Executive Vice President and Chief Financial Officer Conference Call Participants John Murphy - Bank of America Rajat Gupta - JPMorgan Michael Ward - Freedom Capital Jeff Lick - Stephen Colin Langan - Wells Fargo Douglas Dutton - Evercore ISI Operator Good morning. My name is Harry, an ...

AutoNation (AN) reported $6.59 billion in revenue for the quarter ended September 2024, representing a yearover-year decline of 4.5%. EPS of $4.02 for the same period compares to $5.54 a year ago. The reported revenue represents a surprise of -2.18% over the Zacks Consensus Estimate of $6.73 billion. With the consensus EPS estimate being $4.48, the EPS surprise was -10.27%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

AutoNation (AN) came out with quarterly earnings of $4.02 per share, missing the Zacks Consensus Estimate of $4.48 per share. This compares to earnings of $5.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -10.27%. A quarter ago, it was expected that this auto retailer would post earnings of $4.31 per share when it actually produced earnings of $3.99, delivering a surprise of -7.42%.Over the last four quarters, the company ...

AutoNation 1 Third Quarter 2024 Earnings Release October 25, 2024 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "estimates," "intends," "goals," "targets," "projects," "plans," "b ...

Exhibit 99.1 AutoNation Investor Contact: Derek Fiebig (954) 769-2227 fiebigd@autonation.com Media Contact: Lisa Rhodes Ryans (954) 769-4120 publicrelations@autonation.com AutoNation Reports Third Quarter 2024 Results • Q3 2024 EPS $4.61, adjusted EPS $4.02 • Strong Same Store New Vehicle unit sales growth of 2% • Record After-Sales gross profit of $558 million • AN Finance growth continues with $700 million in YTD originations FORT LAUDERDALE, Fla., (October 25, 2024) — AutoNation, Inc. (NYSE: AN), today r ...

Q3 2024 EPS $4.61, adjusted EPS $4.02 Strong Same Store New Vehicle unit sales growth of 2% Record After-Sales gross profit of $558 million AN Finance growth continues with $700 million in YTD originationsFORT LAUDERDALE, Fla., Oct. 25, 2024 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), today reported third quarter 2024 revenue of $6.6 billion, EPS of $4.61, and adjusted EPS of $4.02. Third quarter 2024 results were adversely impacted by the residual effects of the CDK outage in July, which reduced earnings ...