AutoNation (AN) Tops Q1 EPS by 92c, Revenues Beat

AutoNation (NYSE: AN) reported Q1 EPS of $2.79, $0.92 better than the analyst estimate of $1.87. Revenue for the quarter came in at $5.9 billion versus the consensus estimate of $5.04 billion.

• New Vehicle Retail Unit Sales – Same-store new vehicle unit sales increased 22% compared to the prior year and increased 12% compared to the first quarter of 2019.
• Used Vehicle Retail Unit Sales – Same-store used vehicle unit sales increased 28% compared to the prior year and increased 20% compared to the first quarter of 2019.
• Revenue – Same-store revenue was $5.9 billion, an increase of 27% compared to the year-ago period.
• Gross Profit - Same-store gross profit totaled $1.0 billion, an increase of 27% compared to the year-ago period.
• New Vehicle Gross Profit - Same-store new vehicle gross profit per vehicle retailed was $2,739, up $1,041 or 61% compared to the year-ago period.
• Used Vehicle Gross Profit - Same-store used vehicle gross profit per vehicle retailed was $1,744, up $255 or 17% compared to the year-ago period.
• Customer Financial Services Gross Profit - Same-store Customer Financial Services gross profit per vehicle retailed was a record $2,218, up $128 or 6% compared to the year-ago period.
• SG&A as a Percentage of Gross Profit –SG&A as a percentage of gross profit was 62.7%, an improvement of 1,120 basis points compared to the prior year.

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

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