Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was $6.6 billion, a decrease of 4% year-over-year, primarily due to a decline in Used Vehicle unit sales and moderated selling prices for both new and used vehicles [12] - Gross profit increased 2% sequentially to $1.2 billion but was down from the previous year, with a gross profit margin of 18% of revenue remaining unchanged from Q2 [12][13] - Adjusted net income was $162 million compared to $244 million a year ago, with adjusted EPS at $4.02 for the quarter, not accounting for the $0.21 EPS impact from the CDK outage [14][15] Business Line Data and Key Metrics Changes - New Vehicle sales saw a 2% increase in same-store units, with strong performance across all segments, including Premium Luxury, Import, and Domestic [6][16] - Used Vehicle sales decreased nearly 8% year-over-year but showed sequential growth, with strong demand for vehicles priced under $20,000 [7][17] - Customer Financial Services (CFS) experienced sequential improvement, with product attachment rates and CFS PVRs exceeding previous records, and AN Finance originated over $700 million in new loans year-to-date [8][19] Market Data and Key Metrics Changes - New Vehicle inventory levels were at 46,000 units at the end of September, reflecting a 52-day sales supply, which is consistent with prior periods after adjusting for the CDK impacts [16] - Used Vehicle PVR was down approximately 9% year-over-year but remained stable sequentially, with a notable shift towards lower-priced vehicles [18] - The After-Sales segment grew gross profit by more than 3% year-over-year, now representing nearly half of total gross profit [20] Company Strategy and Development Direction - The company is focusing on capital allocation opportunities, including share repurchases and potential acquisitions, while also optimizing its portfolio through divestitures [10][22] - There is an expectation of moderation in seller expectations for franchise store valuations, allowing for more capital deployment in acquisitions that yield higher returns [11][22] - The company aims to enhance its self-sourcing capabilities for Used Vehicles to maintain and improve margin performance [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving affordability due to interest rate reductions, which is expected to lift demand for both new and used vehicles [25] - The company is encouraged by the stabilization of new car margins and anticipates that the fourth quarter will benefit from seasonal strength in premium luxury brands [17][25] - Management acknowledged the challenges faced in Q3, including the CDK outage and weather-related store closures, but noted a strong recovery in performance [6][25] Other Important Information - The company divested eight franchise stores during the quarter, generating over $150 million in proceeds, which will be used for capital reallocation [10][14] - Adjusted free cash flow year-to-date through September was $467 million, down from $850 million a year ago, reflecting changes in earnings and the impact of the CDK outage [21] Q&A Session Summary Question: Impact of warranty work from stop-sales on parts and service growth - Management noted that there is potential for growth in customer pay due to increased warranty work from stop-sales, with a focus on improving penetration in various vehicle age segments [27][28] Question: Clarification on AutoNation Finance's ABS deal and funding costs - Management indicated that the first ABS deal is expected next year, which should lower funding costs compared to current warehouse lines, but specific numbers are not yet available [30][31] Question: Trends in used car business post-CDK outage - Management reported that used car performance improved throughout Q3, with a better inventory position entering Q4, leading to an optimistic outlook for used vehicle sales [39][40] Question: Effects of storms on sales and service - Management confirmed that while the sales side typically recovers quickly post-storm, the service side experiences lingering effects, with some downtime but overall manageable impacts [41][42] Question: After-Sales growth and its underlying strength - Management emphasized that After-Sales growth was strong despite challenges, with a focus on technician recruitment and retention to further enhance service capabilities [47][48]

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 ...

Core Insights - AutoNation (AN) is expected to report quarterly earnings of $4.53 per share, reflecting a year-over-year decline of 18.2% [1] - Anticipated revenues are projected at $6.76 billion, showing a decline of 1.9% compared to the same quarter last year [1] - The consensus EPS estimate has been revised upward by 0.2% in the past 30 days, indicating analysts' reassessment of their initial estimates [1] Revenue Projections - 'Revenue- Other' is expected to reach $6.30 million, indicating a year-over-year increase of 3.3% [2] - 'Revenue- New Vehicle' is projected at $3.16 billion, reflecting a decline of 0.8% year-over-year [2] - 'Revenue- Used Vehicle' is anticipated to be $2.00 billion, showing an 8% decrease from the prior year [2] - 'Revenue- Parts and Service' is expected to reach $1.23 billion, indicating a year-over-year increase of 6.6% [2] Unit Sales and Profitability Metrics - Total retail unit sales are forecasted to be 133,057, down from 134,806 in the same quarter last year [3] - Revenue per vehicle retailed for new vehicles is expected to be $49,865.59, down from $51,174 year-over-year [3] - Revenue per vehicle retailed for used vehicles is projected at $26,718.89, compared to $27,926 in the same quarter last year [3] - Gross profit per vehicle retailed for finance and insurance is expected to be $2,722.11, down from $2,741 year-over-year [3] - Unit sales for used vehicles retail are projected at 70,008, down from 72,517 in the same quarter last year [3] Additional Metrics - The consensus estimate for new vehicle retail unit sales stands at 63,049, slightly up from 62,289 in the same quarter last year [4] - Gross profit per vehicle retailed for used vehicles is expected to be $1,582.39, down from $1,746 year-over-year [4] - Gross profit per vehicle retailed for new vehicles is projected at $2,781.01, down from $4,025 in the previous year [4] Market Performance - AutoNation shares have returned -7.3% over the past month, contrasting with the Zacks S&P 500 composite's +2.8% change [4] - The company holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market in the near future [4]

AutoNation (AN) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on October 25, 2024, might help the stock move higher if these key numbers are better than e ...

FORT LAUDERDALE, Fla., Oct. 7, 2024 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN), today announced that it will release its financial results for the third quarter ended September 30, 2024, on Friday, October 25, 2024, before the market opens. AutoNation management will discuss these results and other information regarding the Company during a conference call and audio webcast that same day at 9:00 a.m. Eastern Time.The conference call may be accessed by telephone at 833-470-1428 (Conference ID: 356177) or on ...

Shares of AutoNation, Inc. (AN) fell 7.4% since the company reported second-quarter 2024 results. It reported adjusted earnings of $3.99 per share, which decreased 37% year over year and missed the Zacks Consensus Estimate of $4.31. In the second quarter, revenues amounted to $6.48 billion, which missed the Zacks Consensus Estimate of $6.76 billion and declined from $6.89 billion reported in the second quarter of 2023.Key TakeawaysIn the reported quarter, new vehicle revenues were down 4.8% year over year t ...