UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13107 AUTONATION, INC. (Exact name of registrant as specified in its charter) Delaware 73-1105145 (State or other jurisdictio ...

AutoNation, Inc. (NYSE:AN) Q2 2023 Earnings Conference Call July 21, 2023 9:00 AM ET Company Participants Derek Fiebig - Vice President, Investor Relations Mike Manley - Chief Executive Officer Joe Lower - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Daniel Imbro - Stephens Rajat Gupta - JPMorgan Michael Ward - The Benchmark Colin Langan - Wells Fargo Bret Jordan - Jefferies David Whiston - Morningstar Operator Good morning. My name is Ellen, and I'll be your conference ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AUTONATION, INC. FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13107 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or org ...

Investor Presentation First Quarter 2023 ...

AutoNation, Inc. (NYSE:AN) Q1 2023 Earnings Conference Call April 20, 2023 9:00 AM ET Company Participants Derek Fiebig - Vice President, Investor Relations Mike Manley - Chief Executive Officer Joe Lower - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Joe Enderlin - Stephens Inc Bret Jordan - Jefferies Adam Jonas - Morgan Stanley Rajat Gupta - JPMorgan Operator Good morning. My name is Brika and I will be your conference operator for today. At this time, I would like to ...

PART I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents AutoNation, Inc.'s unaudited condensed consolidated financial statements, including balance sheets, income statements, and cash flows, for Q1 2023 [Unaudited Condensed Consolidated Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2023, total assets increased to $10.36 billion from $10.06 billion at year-end 2022, primarily driven by increases in inventory and goodwill Condensed Consolidated Balance Sheet Data (in millions) | Account | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $3,153.0 | $3,138.0 | | Inventory | $2,196.2 | $2,048.3 | | Goodwill | $1,450.2 | $1,320.1 | | **Total Assets** | **$10,360.8** | **$10,059.7** | | **Total Current Liabilities** | $3,780.8 | $3,405.7 | | Vehicle floorplan payable (trade & non-trade) | $2,185.7 | $2,109.3 | | Long-term debt, net | $3,584.7 | $3,586.9 | | **Total Liabilities** | **$8,340.5** | **$8,011.9** | | **Total Shareholders' Equity** | **$2,020.3** | **$2,047.8** | [Unaudited Condensed Consolidated Statements of Income](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Income) For the first quarter of 2023, total revenue decreased by 5.2% year-over-year to $6.40 billion, while diluted earnings per share increased to $6.07 Condensed Consolidated Statements of Income (in millions, except per share data) | Metric | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | **Total Revenue** | **$6,398.7** | **$6,752.8** | | New vehicle revenue | $2,931.9 | $2,807.2 | | Used vehicle revenue | $2,032.6 | $2,572.4 | | Parts and service revenue | $1,089.8 | $1,003.9 | | **Total Gross Profit** | **$1,286.4** | **$1,308.9** | | Operating Income | $443.3 | $519.0 | | **Net Income** | **$288.7** | **$362.1** | | **Diluted EPS** | **$6.07** | **$5.78** | | Diluted weighted average shares outstanding | 47.6 | 62.6 | [Unaudited Condensed Consolidated Statements of Shareholders' Equity](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Shareholders%27%20Equity) Shareholders' equity decreased to $2.02 billion in Q1 2023, primarily due to common stock repurchases offsetting net income - Net income of **$288.7 million** was offset by **$307.5 million** in common stock repurchases (including excise tax) during Q1 2023[13](index=13&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities decreased to $510.0 million in Q1 2023, while investing activities significantly increased due to acquisitions Summary of Cash Flows (in millions) | Cash Flow Activity | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $510.0 | $643.2 | | Net cash used in investing activities | $(305.9) | $(59.0) | | Net cash used in financing activities | $(216.1) | $(36.5) | | **Increase (Decrease) in Cash** | **$(12.0)** | **$547.7** | - Investing activities included **$191.0 million** used for business acquisitions, a significant increase from the prior year[15](index=15&type=chunk) - Financing activities were dominated by **$315.7 million** in common stock repurchases, partially offset by **$235.0 million** in net proceeds from commercial paper[17](index=17&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail revenue disaggregation, debt instruments, goodwill allocation, and segment performance for Domestic, Import, and Premium Luxury segments - As of March 31, 2023, the company owned and operated **344 new vehicle franchises** from **248 stores**, primarily in the Sunbelt region, selling **33 different new vehicle brands**[19](index=19&type=chunk) - In Q1 2023, the company acquired **RepairSmith**, a mobile automotive repair and maintenance business, which contributed to an increase in goodwill[52](index=52&type=chunk)[76](index=76&type=chunk) - The company repurchased **2.4 million shares** for **$305.0 million** in Q1 2023, with **$879.4 million** remaining available under the repurchase program as of March 31, 2023[73](index=73&type=chunk) Segment Revenue and Income - Q1 2023 (in millions) | Segment | Revenue | Segment Income | | :--- | :--- | :--- | | Domestic | $1,831.1 | $118.5 | | Import | $1,789.3 | $160.4 | | Premium Luxury | $2,484.9 | $226.8 | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2023 financial results, including gross profit trends, market conditions, strategic initiatives, and capital allocation [Results of Operations](index=25&type=section&id=Results%20of%20Operations) In Q1 2023, total revenue fell 5.2% to $6.4 billion, and operating income decreased 14.6% to $443.3 million compared to Q1 2022 Key Operating Metrics Variance (Q1 2023 vs Q1 2022) | Metric | Q1 2023 | Q1 2022 | % Variance | | :--- | :--- | :--- | :--- | | Total Revenue | $6,398.7M | $6,752.8M | (5.2)% | | Total Gross Profit | $1,286.4M | $1,308.9M | (1.7)% | | Operating Income | $443.3M | $519.0M | (14.6)% | | New Vehicle Gross Profit PVR | $5,210 | $6,112 | (14.8)% | | Used Vehicle Gross Profit PVR | $2,117 | $1,566 | 35.2% | | Finance & Insurance PVR | $2,711 | $2,672 | 1.5% | - SG&A expenses increased **5.6%** to **$782.7 million**, primarily due to acquisitions, new stores, and technology investments, rising to **60.8%** of gross profit from **56.6%** YoY[176](index=176&type=chunk)[177](index=177&type=chunk) - Floorplan interest expense surged to **$27.1 million** from **$5.2 million** YoY, and other interest expense rose to **$41.1 million** from **$29.6 million**, both due to higher interest rates and debt balances[179](index=179&type=chunk)[180](index=180&type=chunk) [Segment Results](index=37&type=section&id=Segment%20Results) In Q1 2023, Premium Luxury was the most resilient segment, while Domestic and Import segments experienced significant revenue and income declines Segment Performance (Q1 2023 vs Q1 2022, in millions) | Segment | Revenue (2023) | Revenue (2022) | % Change | Segment Income (2023) | Segment Income (2022) | % Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Domestic | $1,831.1 | $2,034.4 | (10.0)% | $118.5 | $149.4 | (20.7)% | | Import | $1,789.3 | $1,974.1 | (9.4)% | $160.4 | $186.2 | (13.9)% | | Premium Luxury | $2,484.9 | $2,478.7 | 0.3% | $226.8 | $229.5 | (1.2)% | [Liquidity and Capital Resources](index=43&type=section&id=Liquidity%20and%20Capital%20Resources) AutoNation maintained strong liquidity in Q1 2023, focusing capital allocation on growth and shareholder returns through acquisitions and share repurchases Available Liquidity (in millions) | Source | March 31, 2023 | | :--- | :--- | | Cash and cash equivalents | $58.3 | | Revolving credit facility | $1,799.3 | Share Repurchases (Q1 2023) | Metric | Value | | :--- | :--- | | Shares repurchased (millions) | 2.4 | | Aggregate purchase price (millions) | $305.0 | | Average purchase price per share | $126.37 | | Remaining authorization (millions) | $879.4 | - The company is expanding its **AutoNation USA** used vehicle stores, targeting over **130 stores** nationwide, and acquired **RepairSmith**, a mobile repair service, in Q1 2023[194](index=194&type=chunk)[195](index=195&type=chunk) - The company was in compliance with its debt covenants, with a leverage ratio of **1.82x** (requirement ≤ **3.75x**) and a capitalization ratio of **61.3%** (requirement ≤ **70.0%**)[205](index=205&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company is exposed to market risk from interest rate fluctuations on variable-rate debt and equity price changes in minority investments - A **100 basis point** change in interest rates would result in an approximate change to annual floorplan interest expense of **$21.9 million**, based on the **$2.2 billion** of variable rate vehicle floorplan payable at March 31, 2023[225](index=225&type=chunk) - The company is subject to equity price risk from minority investments. A hypothetical **10%** change in the price of its equity securities with readily determinable fair values (**$14.3 million**) would result in a **$1.4 million** gain/loss. A similar change in its investment without a readily determinable fair value (**$56.7 million**) would result in a **$5.7 million** gain/loss[229](index=229&type=chunk) [Controls and Procedures](index=50&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of the end of the period covered by the report[230](index=230&type=chunk) - **No changes** in internal control over financial reporting occurred during the last fiscal quarter that materially affected, or are reasonably likely to materially affect, internal controls[231](index=231&type=chunk) PART II. OTHER INFORMATION [Risk Factors](index=51&type=section&id=Item%201A.%20Risk%20Factors) This section refers to comprehensive risk factors from the 2022 Annual Report, including economic sensitivity, supply dependence, and regulatory impacts - The report refers to the risk factors detailed in the **Annual Report on Form 10-K** for the year ended December 31, 2022[234](index=234&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2023, AutoNation repurchased approximately 2.4 million shares for $305.0 million, with $879.4 million remaining for future repurchases Share Repurchase Activity (Q1 2023) | Period | Total Shares Purchased | Avg. Price Paid Per Share | Approx. Dollar Value Remaining (in millions) | | :--- | :--- | :--- | :--- | | Jan 2023 | 835,555 | $111.56 | $1,091.2 | | Feb 2023 | — | $— | $1,091.2 | | Mar 2023 | 1,577,918 | $134.22 | $879.4 | | **Total** | **2,413,473** | | **$879.4** | [Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including credit agreement amendments and CEO/CFO certifications - Filed exhibits include the **Second Amendment to the Third Amended and Restated Credit Agreement**, dated March 2, 2023[237](index=237&type=chunk) - **Certifications** from the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a) and 13a-14(b) of the Exchange Act were filed as exhibits[237](index=237&type=chunk)

AutoNation, Inc. (NYSE:AN) Q4 2022 Earnings Conference Call February 17, 2023 9:00 AM ET Company Participants Derek Fiebig - Vice President of Investor Relations Mike Manley - Chief Executive Officer Joe Lower - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Merrill Lynch Daniel Imbro - Stephens Bret Jordan - Jefferies Colin Langan - Wells Fargo Rajat Gupta - JPMorgan David Whiston - Morningstar Operator Good morning. My name is Breka, and I will be your conference operat ...

Investor Presentation Fourth Quarter and Full Year 2022 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," "intends," "goals," "targets," "projects," "plans," "believes," "continues," ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number:1-13107 AUTONATION, INC. (Exact name of registrant as specified in its charter) Delaware 73-1105145 (State or other jur ...

Financial Performance - AutoNation's Q3 2022 GAAP EPS reached $6.31, a 23% year-over-year increase[6] - Adjusted EPS increased by 17% year-over-year to $6.00, driven by operational effectiveness and capital allocation[6] - Record third-quarter gross profit of $1.3 billion was achieved[7] - Cash flow from operations was $548 million during the quarter and $1.4 billion year-to-date[9] Strategic Initiatives and Acquisitions - AutoNation agreed to acquire Moreland Auto Group dealerships, representing nine franchises at four dealerships in Colorado, with approximately $320 million in annual revenue[3] - The acquisition of CIG Financial was completed, creating AutoNation Finance to extend customer relationships[4] - The company repurchased 3.8 million shares for $428 million during the quarter and 10.9 million shares year-to-date for $1.2 billion[3] Operational Highlights - Over 27,900 vehicles were purchased directly from customers through the "Will Buy Your Car" program, with over 90% of used vehicles self-sourced during the quarter[5] - AutoNation was ranked 1 among public dealers by Reputation with a score of 779 as of September 2022[5] - After-Sales gross profit increased by 13% year-over-year, reflecting continued momentum in consumer demand and repair content[8] - CFS PVR increased 7% year-over-year due to increased product penetration and margin improvement[9]