Autonation Inc

AN

Equity

ISIN US05329W1027 / Valor 647999

New York Stock Exchange, Inc (2024-09-17)

USD 169.63+1.51%

Autonation Inc
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About company

Autonation Inc is a Fortune 500 company that operates as an automotive retailer, selling new and used vehicles, as well as providing maintenance and repair services through its network of dealerships across the United States.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Decline

AutoNation Inc. reported a revenue of $6.5 billion for the second quarter of 2024, which represents a 6% decrease from the $6.89 billion reported in the same quarter of 2023. This decline was primarily attributed to the CDK Global cyber incident and lower average selling prices of vehicles.

Net Income and EPS

For Q2 2024, AutoNation Inc. posted a net income of $130.2 million, a significant drop of 52% compared to $272.5 million in Q2 2023. The diluted earnings per share (EPS) for the quarter stood at $3.20, down from $6.02 in the previous year. Adjusted EPS was $3.99, down from $6.29 in Q2 2023.

Gross Profit

AutoNation Inc.'s gross profit for the second quarter of 2024 was $1.2 billion, a 13% decrease from $1.3 billion in the same period last year. The decline in gross profit was influenced by lower vehicle sales and the impact of the CDK outage.

Segment Performance

In Q2 2024, AutoNation Inc.'s Domestic Segment Income was $50 million, down from $116 million in Q2 2023. The Import Segment Income was $108 million, compared to $173 million a year ago, while the Premium Luxury Segment Income was $142 million, down from $222 million in the previous year.

Capital Allocation

During the second quarter of 2024, AutoNation Inc. repurchased 2.0 million shares of common stock for $311 million. Year-to-date through July 29, 2024, the company repurchased 2.2 million shares for $350 million. AutoNation has approximately $971 million remaining under its current share repurchase program.

Summarized from source with an LLMView Source

Key figures

11.2%1Y

40.8%3Y

237%5Y

Performance

32.8%1Y

39.4%3Y

43.7%5Y

Volatility