AutoNation (AN) Misses Q4 EPS by 13c

AutoNation (NYSE: AN) reported Q4 EPS of $1.02, $0.13 worse than the analyst estimate of $1.15. Revenue for the quarter came in at $5.4 billion versus the consensus estimate of $5.63 billion.

AutoNation previously announced a cost savings plan and a corporate and regional restructuring to improve efficiency and profitability that further positions the Company for long-term success. The Company's plan to reduce costs by approximately $50 million annually includes a reorganization and realignment of its operating structure. A key driver is the consolidation of its regional structure from three regions to two regions. As noted above, AutoNation incurred restructuring-related charges in connection with this plan during the fourth quarter 2018. The Company expects to incur additional restructuring-related charges in the first quarter of 2019 that are currently estimated to be lower than the charges incurred during the fourth quarter of 2018.

For earnings history and earnings-related data on AutoNation (AN) click here.

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