Financial Performance - Fourth quarter 2024 revenue reached $7.2 billion, an 8% increase year-over-year on a same-store basis[2] - EPS for Q4 2024 was $4.64, with adjusted EPS at $4.97, reflecting a decrease of 8% from the previous year[5] - Full year 2024 revenue totaled $26.8 billion, a slight decrease of 1% compared to 2023[10] - The company reported a net income of $692.2 million for the full year 2024, a 32% decrease from the previous year[10] - Total revenue for Q4 2024 reached $7,213.2 million, a 6.6% increase from $6,767.4 million in Q4 2023[27] - Net income for the twelve months ended December 31, 2024, was $692.2 million, down 32.2% from $1,021.1 million in 2023[27] - Diluted earnings per share for continuing operations decreased to $16.92 in 2024 from $22.72 in 2023, reflecting a 25.5% decline[27] - Adjusted net income for 2024 was $714.0 million, down from $1,032.8 million in 2023, representing a decrease of about 31%[41] - The adjusted diluted earnings per share for 2024 was $17.46, down from $23.00 in 2023[39] Vehicle Sales and Revenue - New vehicle same-store retail unit sales grew by 12% in Q4 2024, contributing to a 13% increase in new vehicle revenue to $3.8 billion[9] - New vehicle revenue increased to $3,775.2 million in Q4 2024, up 12.1% from $3,366.9 million in Q4 2023[27] - Retail vehicle unit sales increased by 6,364 units, totaling 136,263 units sold in Q4 2024, a growth of 4.9%[29] - Retail new vehicle unit sales increased by 10.3% to 71,434 units in Q4 2024, compared to 64,748 units in Q4 2023[32] - Retail used vehicle revenue decreased by $23.0 million, representing a decline of 1.3% compared to the previous year[29] - The company reported a decrease in retail used vehicle unit sales by 0.5% to 64,829 units in Q4 2024 compared to 65,151 units in Q4 2023[32] - Used vehicle retail unit sales slightly decreased by 0.8% to 63,330 units from 63,831 units year-over-year[43] Profitability and Expenses - Same-store gross profit for the full year 2024 decreased by 7% to $4.7 billion, with new vehicle gross profit down by 27%[14] - Gross profit for the twelve months ended December 31, 2024, was $4,785.4 million, a decrease of 6.7% compared to $5,131.5 million in 2023[27] - Total gross profit increased to $1,241.6 million, a rise of $26.4 million or 2.2% from Q4 2023[29] - New vehicle gross profit declined by 9.6% to $212.2 million from $234.7 million year-over-year[43] - Selling, general, and administrative expenses increased to $3,263.9 million in 2024, slightly up from $3,253.2 million in 2023[27] - SG&A expenses for Q4 2024 were $833.7 million, representing 67.1% of gross profit, compared to $808.3 million and 66.5% in Q4 2023[37] - SG&A expenses as a percentage of gross profit increased to 68.2% in 2024 from 63.4% in 2023[39] Financing and Liquidity - AutoNation Finance originated $1.1 billion in loans during 2024, enhancing its loan portfolio[6] - As of December 31, 2024, AutoNation had $1.3 billion in liquidity, with a leverage ratio of 2.4X[18] - The leverage ratio stood at 2.45x, well below the covenant limit of 3.75x, while the interest coverage ratio was 4.24x, exceeding the covenant requirement of 3.00x[35] - Non-recourse debt increased significantly to $826.0 million in 2024 from $258.4 million in 2023[35] - The company experienced an increase in auto loans receivable, net, amounting to $877.1 million in 2024, compared to $229.9 million in 2023[41] Future Outlook and Strategic Initiatives - The company anticipates continued focus on strategic acquisitions and digital capabilities to enhance market share and profitability[25] - Future performance expectations include navigating economic uncertainties such as inflation and consumer demand fluctuations[25] - The company plans to maintain expense controls and improve gross profit margins amid competitive pressures in the automotive retail industry[25]

Financial Performance - Net income for the three months ended September 30, 2024, was $185.8 million, with diluted earnings per share of $4.61, compared to $243.7 million and $5.54 in the same period of 2023[128]. - Total revenue for the three months ended September 30, 2024, was $6,586.1 million, a decrease of 4.4% compared to $6,892.7 million in the same period of 2023[143]. - Total gross profit for the three months ended September 30, 2024, was $1,182.8 million, down 8.6% from $1,294.6 million in the same period of 2023[143]. - Operating income for the three months ended September 30, 2024, was $350.7 million, a decrease of 16.4% from $419.5 million in 2023[143]. - Total revenue for the first nine months of 2024 was $5,563.3 million, down 9.8% from $6,169.4 million in the same period of 2023[166]. Vehicle Sales and Inventory - For the nine months ended September 30, 2024, new vehicle sales accounted for 47% of total revenue and 16% of total gross profit[124]. - The company experienced a 2% decrease in U.S. industry retail new vehicle unit sales in Q3 2024 compared to Q3 2023[125]. - Retail vehicle unit sales for new vehicles increased by 2.0% to 62,890 units, while used vehicle sales decreased by 9.8% to 64,071 units[149]. - The new vehicle inventory at September 30, 2024, was 46,090 units, up from 27,544 units in 2023[131]. - Inventory days supply for new vehicles increased to 52 days in September 2024 from 31 days in September 2023[145]. Revenue Breakdown - New vehicle revenue decreased by $16.4 million (0.5%) to $3,171.2 million for the three months ended September 30, 2024, compared to $3,187.6 million in 2023[143]. - Retail used vehicle revenue decreased by $283.7 million (14.0%) to $1,741.4 million for the three months ended September 30, 2024, compared to $2,025.1 million in 2023[143]. - Parts and service operations contributed 47% of total gross profit despite comprising only 18% of total revenue[124]. - Parts and service revenue accounted for 17.8% of total revenue for the three months ended September 30, 2024, compared to 16.8% in 2023[146]. - The finance and insurance segment reported a net revenue of $328.7 million, down 9.9% from $364.8 million in the previous year[149]. Profit Margins - New vehicle gross profit margin decreased to 5.6% for the three months ended September 30, 2024, compared to 7.9% in 2023[146]. - Used vehicle gross profit margin for retail was 6.1% for the three months ended September 30, 2024, down from 6.3% in 2023[146]. - The gross profit margin for new vehicles decreased to 15.1% from 19.6% in the prior year, indicating a decline in profitability[151]. - Total variable operations gross profit per vehicle retailed decreased by 13.9% to $4,769 for the three months ended September 30, 2024, compared to $5,540 in 2023[143]. Expenses and Financial Position - SG&A expenses decreased to $811.3 million for the three months ended September 30, 2024, from $819.3 million in 2023, a 1.0% decrease[208]. - Floorplan interest expense increased to $60.5 million for the three months ended September 30, 2024, from $38.3 million in 2023, a rise of 57.9%[213]. - The effective income tax rate was 24.9% for the three months ended September 30, 2024, compared to 25.6% for the same period in 2023[218]. - The company reported a total of $3,603.3 million in long-term debt as of September 30, 2024, compared to $3,612 million at December 31, 2023[234]. - As of September 30, 2024, the company had cash and cash equivalents of $60.2 million, down from $60.8 million at December 31, 2023[225]. Strategic Initiatives and Market Conditions - The company is investing significantly in strategic initiatives, including the planned expansion of AutoNation USA stores and AutoNation Finance business[249]. - The automotive retail industry is sensitive to changing economic conditions, including unemployment levels and consumer confidence, which could impact vehicle sales levels[248]. - The CDK outage negatively impacted vehicle sales, inventory, and customer relationship management functions, affecting both domestic and import revenues[195]. - The CDK cyber incident negatively impacted earnings per share by approximately $0.21 for the quarter ended September 30, 2024[130]. - The company did not acquire any stores during the nine months ended September 30, 2024, but divested seven Domestic stores and one Import store during the same period[231].

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 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 ...

Financial Performance - Q3 2024 revenue totaled $6.6 billion, a decrease of $307 million or 4% compared to the previous year[4] - Q3 2024 diluted EPS was $4.61, down 17% from $5.54 in the same quarter last year[4] - Year-to-date revenue for 2024 was $19.6 billion, down $629 million or 3% compared to the same period last year[8] - Total revenue for Q3 2024 was $6,586.1 million, a decrease of 4.4% compared to $6,892.7 million in Q3 2023[17] - Operating income decreased to $350.7 million, a decline of 16.4% compared to $419.5 million in the same quarter last year[17] - Net income from continuing operations was $185.8 million, down 23.7% from $243.7 million in Q3 2023[17] - Adjusted EPS for Q3 2024 was $4.02, a decrease of 27% from $5.54 in the same quarter last year[4] - Total gross profit for Q3 2024 was $1,182.8 million, down 8.6% from $1,294.6 million in Q3 2023[18] - Total consolidated revenue for Q3 2024 was $6,586.1 million, a decrease of 4.4% from $6,892.7 million in Q3 2023[20] Vehicle Sales - New vehicle retail unit sales increased by 2% year-over-year to 63,150 units, while used vehicle retail unit sales decreased by 8% to 66,454 units[4] - New vehicle revenue decreased to $3,171.2 million from $3,187.6 million, while used vehicle revenue fell to $1,901.4 million from $2,172.1 million[17] - New vehicle unit sales increased by 1.4% to 63,150 units in Q3 2024, while used vehicle unit sales decreased by 8.4% to 66,454 units[18] - Retail new vehicle unit sales for domestic markets decreased by 1.0% to 17,583 units in Q3 2024 from 17,766 units in Q3 2023[20] - Retail used vehicle unit sales in domestic markets dropped by 16.6% to 18,681 units in Q3 2024 compared to 22,406 units in Q3 2023[20] Profit Margins - The gross profit margin for new vehicles was 5.6% in Q3 2024, down from 7.9% in Q3 2023[19] - New vehicle gross profit margin decreased to 5.6% from 7.9% year-over-year[28] - Used vehicle gross profit margin for retail sales was 6.1%, slightly down from 6.3% in the previous year[28] - Total variable operations gross profit per vehicle retailed decreased by 13.8% to $4,798 from $5,568 in the prior year[27] Expenses and Costs - Total cost of sales for Q3 2024 was $5,403.3 million, a decrease of 3.5% from $5,598.1 million in Q3 2023[17] - Selling, general, and administrative expenses were $811.3 million, slightly down from $819.3 million in Q3 2023[17] - Operating expenses as a percentage of revenue increased to 12.3% in Q3 2024 from 11.9% in Q3 2023[19] - The company reported a decrease in finance and insurance net revenue to $335.4 million from $369.5 million in Q3 2023[17] Shareholder Actions - The company repurchased 36,000 shares for $6 million in Q3 2024, with a total of 2.2 million shares repurchased year-to-date for $356 million[10] - Stock repurchases totaled $5.6 million in Q3 2024, significantly lower than $200.0 million in Q3 2023[21] Liquidity and Debt - AutoNation had $1.6 billion in liquidity as of September 30, 2024, including $60 million in cash and $1.5 billion available under its revolving credit facility[10] - Non-recourse debt increased to $645.9 million from $246.1 million, a significant rise of $399.8 million[22] Divestitures and Capital Expenditures - The company divested seven Domestic stores and one Import store, resulting in net proceeds of $156 million and a pre-tax gain of $53.9 million[11] - Capital expenditures for Q3 2024 were $81.0 million, down from $87.0 million in Q3 2023[21] - Cash received from divestitures was $156.0 million in Q3 2024, with no divestitures reported in Q3 2023[21] One-time Costs - The company reported a one-time cost of $42.8 million associated with a CDK outage, impacting overall financial performance[26]

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 June 30, 2024 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 jurisdiction of ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $6.48 billion, nearly identical to Q1 despite the CDK outage, but decreased 6% year-over-year due to normalization in vehicle selling prices [16][19] - Gross profit was $1.2 billion, representing 18% of revenue, and decreased 3% sequentially, reflecting productivity drag from the outage [17] - Adjusted net income was $163 million, down from $285 million a year ago, with adjusted EPS at $3.99 for the quarter [19] Business Line Data and Key Metrics Changes - New vehicle sales were down 2% for the quarter, with margins stabilizing at $3,108, a decline of $220 during the period [10][20] - Used vehicle sales decreased by 8% year-over-year on a same-store basis, with average selling prices moderating by 5% [22][23] - Customer Financial Services (CFS) saw a 10% drop in products sold per unit, but AN Finance originated over $240 million in loans, almost four times higher than the same quarter in 2023 [12][25] Market Data and Key Metrics Changes - New vehicle inventory levels were at 47,000 units at the end of June, representing 67 days of sales, up from 44 days at the end of Q1 [21] - Used vehicle inventory levels were at 30,000 units at the end of June, down 15% from a year ago, representing 34 days of sales [23] - The demand for lower-priced used vehicles remained strong, with total unit sales of vehicles priced under $20,000 increasing by 4% from a year ago [22] Company Strategy and Development Direction - The company aims to regain market share in the second half of the year, focusing on improving used vehicle sales and inventory turnover [15][31] - There is a commitment to enhancing the CFS model, which is expected to create long-term value despite short-term impacts on profitability [12][25] - The company plans to continue its capital allocation strategy, balancing share repurchases and potential acquisitions as market conditions normalize [29][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about vehicle demand and supply dynamics, expecting to recover any lost market share [30] - The operational impact of the CDK outage is now behind the company, and there is a focus on rebuilding momentum lost during the outage [71] - There are concerns about consumer affordability due to high vehicle prices and interest rates, but management believes there is still pent-up demand for new vehicles [68] Other Important Information - The company manually processed close to 60,000 repair orders during the CDK outage, which significantly slowed operations [9] - The technician workforce increased by 3% from a year ago, highlighting efforts to improve service effectiveness and retention [13] Q&A Session Summary Question: Reaction to $43 million paid during CDK disruption - Management noted significant gratitude and recognition from employees for the support provided during the outage [34][35] Question: Capital allocation strategy moving forward - Management emphasized a consistent approach to capital allocation focused on shareholder returns, with potential shifts based on market conditions [37][39] Question: Breakdown of parts and services growth - The 9% same-store growth in parts and services was attributed to increased service effectiveness and a focus on customer communication [42][43] Question: Long-term IT strategy post-CDK outage - Management is considering investments in redundancy and cybersecurity to mitigate future risks and improve operational continuity [46][49] Question: SG&A normalization expectations - Management expects SG&A percentages to remain elevated temporarily but anticipates improvements as productivity returns [54][56] Question: Outlook on PVRs and market dynamics - Management discussed ongoing internal discussions about PVRs, indicating moderation but not at the previously anticipated pace [58][62] Question: Stability in used vehicle profits and AutoNation USA growth - Management plans to pace the opening of new AutoNation USA stores, focusing on operational capacity and inventory sourcing [64][66] Question: Consumer affordability and auto credit concerns - Management acknowledged affordability challenges for consumers but noted manageable delinquency rates and a potential increase in leasing options [68][70]

Exhibit 99.1 Investor Contact: Derek Fiebig (954) 769-2227 fiebigd@autonation.com Media Contact: Lisa Rhodes Ryans (954) 769-4120 publicrelations@autonation.com AutoNation Reports Second Quarter 2024 Results FORT LAUDERDALE, Fla., (July 31, 2024) — AutoNation, Inc. (NYSE: AN), today reported second quarter 2024 revenue of $6.5 billion, EPS of $3.20, and adjusted EPS of $3.99. Results for the second quarter 2024 were adversely impacted by the outage of AutoNation's dealer management system due to a cyber inc ...

(Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2024 FORM 10-Q 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 jurisdiction of ...

AutoNation, Inc. (NYSE:AN) Q1 2024 Earnings Conference Call April 26, 2024 9:00 AM ET Company Participants Derek Fiebig - Vice President of Investor Relations Michael Manley - Chief Executive Officer Thomas Szlosek - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Rajat Gupta - JPMorgan Bret Jordan - Jefferies Douglas Dutton - Evercore Colin Langan - Wells Fargo Operator Welcome to the AutoNation First Quarter 2024 Conference Call. My name is Carla, and I will be coordinat ...