Published on 26 Apr 2024 on GuruFocus.com via Yahoo Finance
AutoNation Inc (AN) Q1 2024 Earnings: Mixed Results Amid Market Challenges
EPS: Reported at $4.49, down from $6.07 year-over-year, falling short of estimates of $4.27.Revenue: Reached $6.5 billion, a slight increase from $6.4 billion the previous year, exceeding estimates of $6494.36 million.Net Income: Totalled $190.1 million, a significant decrease from $288.7 million year-over-year, surpassing estimates of $181.11 million.After-Sales Gross Profit: Grew by 9% to a record $556 million, indicating strong performance in this segment.New Vehicle Sales: Volume increased by 7%, contributing positively to revenue growth.Share Repurchase: Repurchased 1.6 million shares year-to-date and authorized an additional $1.0 billion for future repurchases, signaling confidence in the companys financial health and future prospects.Operating Income: Declined by 23% to $340.3 million, reflecting challenges in maintaining profitability levels.
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