BEIJING, April 30, 2025 /PRNewswire/ -- Uxin Limited ("Uxin" or the "Company") (Nasdaq: UXIN), China's leading used car retailer, today announced its unaudited financial results for the quarter and full year ended December 31, 2024. As previously announced on November 25, 2024, the Company's board of directors approved a change in the Company's fiscal year end from March 31 to December 31, effective for the fiscal year beginning January 1, 2024. Accordingly, references in this release to the "full year of 2 ...

Financial Data and Key Metrics Changes - The company generated $4.1 billion in revenue, with a gross profit of $724 million and a gross profit margin of 17.5% [12] - Adjusted operating margin was 5.8%, and adjusted earnings per share (EPS) was $6.82 [12] - Adjusted net income for Q1 2025 was $134 million, excluding certain non-cash items [21] - Adjusted SG&A as a percentage of gross profit was 64% [22] Business Line Data and Key Metrics Changes - Same store revenue for new vehicles was up 6% year over year, with units up 4% [14] - New average gross profit per vehicle was $3,449 [14] - Used vehicle unit volume was down 8% year over year, with used retail gross profit per unit at $15.87 [15] - Parts and service gross profit was up 5% for the quarter, with a gross profit margin of 58.3% [17] Market Data and Key Metrics Changes - Approximately 56% of new vehicle units sold in Q1 were produced in America, insulating them from tariffs [7] - The company experienced a wide range of approaches from OEMs regarding tariff impacts, making predictions challenging [7] Company Strategy and Development Direction - The company is focused on a disciplined growth strategy, highlighted by the pending acquisition of the Herb Chambers Automotive Group [10] - Plans to reduce leverage over the next 18 to 24 months following the acquisition [11] - The implementation of Techeon is expected to improve productivity and guest experience [9] Management's Comments on Operating Environment and Future Outlook - Management noted that the first quarter faced challenges due to weather-related disruptions and tariff uncertainties [42] - The company remains optimistic about long-term growth, particularly in parts and service due to an aging vehicle fleet [19] - Management emphasized the importance of focusing on gross profit rather than volume during uncertain market conditions [42] Other Important Information - The company expects to close the Herb Chambers acquisition by the end of Q2 2025, pending OEM approval [10] - Free cash flow for Q1 2025 was $166 million, with liquidity at $964 million [25] Q&A Session Summary Question: Regarding TCA and tariff impacts - Management indicated that tariffs could slow down deferral impacts, affecting future earnings [30] Question: Integration of Techeon and SG&A savings - The rollout of Techeon is progressing well, with expectations of significant SG&A savings through reduced software costs and improved productivity [32] Question: Gross profit performance compared to peers - Management acknowledged weather impacts and emphasized a focus on maximizing returns rather than chasing volume [42] Question: Impact of tariffs on the Herb Chambers acquisition - The asset purchase agreement does not include a breakup fee for the company, and management sees no reason to walk away from the deal [50] Question: Front end gross outlook - Management believes the company is reaching a floor on front end gross, focusing on profitability rather than volume [56] Question: Parts and service growth outlook - Management maintains a mid-single-digit growth outlook for parts and service, with expectations of increased traffic as weather conditions improve [60] Question: Techeon and revenue opportunities - The integration of Techeon is expected to enhance communication and marketing efficiency, leading to potential revenue growth [66]

A B G | A s b u r y A u t o m o t i v e Investor Relations Presentation 2025 First Quarter Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions, projections regarding Asbury's financial position, liquidity, results of operations, cas ...

Core Insights - Asbury Automotive Group reported a revenue of $4.15 billion for the quarter ended March 2025, reflecting a decrease of 1.3% year-over-year and falling short of the Zacks Consensus Estimate of $4.4 billion by 5.80% [1] - The company's earnings per share (EPS) was $6.82, down from $7.21 in the same quarter last year, with an EPS surprise of -0.29% against the consensus estimate of $6.84 [1] Financial Performance Metrics - New vehicle unit sales were 41,496, below the average estimate of 43,854 [4] - Used vehicle retail unit sales totaled 35,415, compared to the average estimate of 39,161 [4] - The average selling price for new vehicles was $51.53 billion, exceeding the average estimate of $51.13 billion [4] - Average gross profit per unit for total new vehicles was $3.45 billion, slightly below the average estimate of $3.46 billion [4] - Average gross profit per unit for used vehicle retail was $1.59 billion, surpassing the average estimate of $1.51 billion [4] Revenue Breakdown - Revenues from new vehicles were $2.14 billion, compared to the average estimate of $2.24 billion, representing a year-over-year increase of 3.6% [4] - Revenues from used vehicles were $1.24 billion, below the average estimate of $1.34 billion, showing a year-over-year decline of 8.9% [4] - Parts and service revenues were $587.60 million, compared to the average estimate of $629.90 million, reflecting a year-over-year decrease of 0.5% [4] - Finance and insurance net revenues were $187 million, slightly below the average estimate of $189.02 million, with a year-over-year decline of 1.4% [4] - Retail revenues from used vehicles were $1.08 billion, compared to the average estimate of $1.20 billion, indicating a year-over-year decrease of 9.4% [4] - Wholesale revenues from used vehicles were $156.90 million, slightly below the average estimate of $157.03 million, representing a year-over-year decline of 5.2% [4] Stock Performance - Asbury Automotive shares returned +1.6% over the past month, outperforming the Zacks S&P 500 composite, which declined by -0.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Insights - AutoNation, Inc. reported first-quarter 2025 adjusted earnings of $4.68 per share, a 4% increase year over year, surpassing the Zacks Consensus Estimate of $4.35, driven by strong revenues and profits from retail new and used vehicles [1] - Total revenues for the quarter reached $6.69 billion, exceeding the Zacks Consensus Estimate of $6.57 billion and up from $6.48 billion in the first quarter of 2024 [1] Revenue Breakdown - New vehicle revenues increased by 9% year over year to $3.24 billion, exceeding the estimate of $2.83 billion, with retail units sold totaling 62,387, a 6% increase from the previous year [2] - Average selling price (ASP) for new vehicles rose by 2.9% year over year to $52,064, surpassing the estimate of $47,541 [2] - Gross profit from new vehicles was $175 million, a decline of 10.7% year over year, but above the estimate of $112.5 million [2] Used Vehicle Performance - Retail used-vehicle revenues decreased by 2.3% year over year to $1.79 billion, but exceeded the projection of $1.77 billion due to higher ASP [3] - Used vehicle retail units sold were 68,000, down 1.6% year over year, missing the projection of 69,429 units [3] - ASP for used vehicles was $26,354, down 0.7% year over year, but above the estimate of $25,562 [3] - Gross profit from used vehicles increased by 11% to $113 million, surpassing the estimate of $86.3 million [3] Wholesale and Other Segments - Revenues from wholesale used vehicles fell by 19.7% to $130.3 million, missing the estimate of $165.7 million, while gross profit rose to $11.5 million from $9.7 million, exceeding the estimate of $6.2 million [4] - Finance and insurance business net revenues were $352.5 million, a 5.3% increase year over year, beating the projection of $332.2 million [4] - Parts and service revenues contracted by 0.7% to $1.16 billion, missing the estimate of $1.3 billion, while gross profit rose by 2.1% to $567.7 million, below the estimate of $618 million [5] Segmental Performance - Domestic segment revenues declined by 2.2% year over year to $1.71 billion, exceeding the projection of $1.7 billion, with segment income down 8.2% to $69 million, but above the estimate of $60 million [5] - Import segment revenues increased by 3.4% to $2 billion, surpassing the forecast of $1.95 billion, with income contracting by 2% to $126 million, exceeding the estimate of $113 million [6] - Premium Luxury segment sales rose by 6.7% to $2.57 billion, surpassing the projection of $2.44 billion, with segment income increasing by 4.1% to $178.7 million, exceeding the estimate of $160 million [6] Financial Position - As of March 31, 2025, the company's liquidity stood at $1.6 billion, including $71 million in cash and nearly $1 billion available under its revolving credit facility [7] - Inventory was valued at $3.23 billion, and non-vehicle debt was $3.96 billion [7] - Capital expenditure for the quarter was $75.2 million [7] Share Repurchase Activity - During the first quarter of 2025, AutoNation repurchased 1.4 million shares for $225 million, with a total of 1.5 million shares repurchased for $254 million since the beginning of the year [8] - The company currently has $607 million remaining under its share repurchase program [8]

Core Insights - True value in investments is derived from growth rather than short-term gains, emphasizing a long-term perspective on evaluation [1] - Great businesses provide significant societal value and exhibit durability, deserving growth proportional to their superior products and services [1] - Key characteristics sought in investments include selection, convenience, value, and durability, with a preference for non-cyclical businesses [1] Business Characteristics - The ability to create superior products and services that outperform competitors is crucial [1] - Multiple revenue streams and anti-fragile business structures are preferred, indicating resilience in adverse conditions [1] - Uniqueness is identified as the primary driver of value, with low maintenance costs allowing for high reinvestment potential [1] Management and Strategy - Trust and network effects are important indicators of business durability [1] - Effective management is critical, with a preference for executives who have aligned interests and a strong focus on the business [1] - Successful companies, like Amazon, demonstrate that a customer-centric approach can yield extraordinary returns [1] Investment Timing and Strategy - The optimal time for investment is when negative news is already known, revealing true value [1] - Companies that can maintain stability during layoffs and do not need to chase talent are seen as more valuable [1] - Price movements are influenced by expectations and surprises, with interest in companies that have negative factors priced in but positive aspects underestimated [1]

Company Overview - AutoNation, Inc. (NYSE: AN) is a retailer of both new and used cars in the United States, offering a diverse range of car brands, prominently including Toyota [1] Investment Philosophy - The investment philosophy focuses on identifying mispriced securities by understanding the financial drivers of a company, often revealed through a DCF model valuation [1]

Group 1 - The company AutoNation (NYSE: AN) is viewed positively, with a focus on its revenue generation from vehicle sales and related parts [1] - The automotive retail sector is highlighted as a potential area for investment, particularly in the context of market trends and consumer demand [1] Group 2 - Crude Value Insights provides an investment service centered on oil and natural gas, emphasizing cash flow and growth prospects [1] - Subscribers benefit from a comprehensive stock model account and detailed cash flow analyses of exploration and production firms [2]

Financial Data and Key Metrics Changes - The total revenue for the first quarter was $6.7 billion, an increase of 3% year over year, and 4% on a same-store basis [16] - Adjusted EPS grew by 4% from the previous year to $4.68, marking the first year-over-year increase in eight quarters [10][20] - Total gross profit, including wholesale, increased by 12% from the first quarter of 2024 [8] Business Line Data and Key Metrics Changes - New vehicle unit sales increased by 7% year over year on a same-store basis, with premium luxury units up 14%, domestic units up 6%, and import units up 2% [7][20] - Used vehicle unit profitability rose by 13% to $16.62, reflecting a focus on margin and inventory management [7][22] - Customer financial services (CFS) profitability per unit increased by 3% year over year, with a finance penetration rate above 70% [24][25] Market Data and Key Metrics Changes - Same-store gross profit for used vehicles grew by 12%, while aftersales gross profit increased by 4% year over year [17][28] - The light vehicle market is projected to see a decline from over 17 million units to between 31 million units for the year, with expectations of cross-shopping mitigating some declines [14] Company Strategy and Development Direction - The company aims to increase store density in existing markets, as evidenced by the acquisition of two stores in Colorado [11][31] - Focus on controlling costs, cash flow, and capital deployment to enhance shareholder returns [15][35] - Continued emphasis on technician workforce development and internal promotions to improve service efficiency [28] Management's Comments on Operating Environment and Future Outlook - Management noted that the impact of tariffs will vary across OEMs and models, with expectations of competitive pricing strategies to maintain market share [53][56] - The company anticipates that the momentum seen in vehicle sales will continue, albeit at a moderating pace [12][34] - Management expressed confidence in the ability to generate cash flow and navigate the evolving market landscape [100] Other Important Information - The company repurchased $225 million of shares at an average price of $165 per share during the quarter, reducing the share count by 4% [10][32] - Adjusted free cash flow for the quarter totaled $237 million, with a cash flow conversion rate of 129% of adjusted net income [29] Q&A Session Summary Question: Impact of AutoNation Finance on PVR - Management acknowledged that the ramp-up of AutoNation Finance had a short-term impact on CFS PVR, estimating it at around $150 for the quarter [40][42] Question: Future Demand and Payback Period - Management indicated that while there may be some pull-forward demand, they do not expect a significant payback in the latter half of the year due to pent-up demand [46][48] Question: OEM Pricing Strategies - Management stated that OEMs will likely absorb some inflation and that the last lever pulled will be net transaction price appreciation [54][96] Question: After Sales Growth Contribution - Management confirmed that aftersales growth was driven by both price and volume increases, with mobile service initiatives contributing at a gross level [104] Question: Used Vehicle Supply and Demand - Management noted strong demand for lower-priced vehicles and emphasized efforts to increase used vehicle inventory [88][90]

Financial Performance - Total revenue increased by 3% year-over-year, from $6486 million to $6690 million[4] - Gross profit increased by 2% year-over-year, from $1198 million to $1220 million[4] - Adjusted net income decreased by 3% year-over-year, from $190 million to $184 million[4] - Diluted adjusted EPS increased by 4% year-over-year, from $449 to $468[4] Sales Performance - New vehicle same store unit growth increased by 7% year-over-year[3,6] - Used vehicle gross profit increased by 12% year-over-year[3,4] - After-sales gross profit reached a record $568 million, with margin expansion exceeding 140 bps[3] AutoNation Finance - AutoNation Finance originations reached $460 million[3,13] - AutoNation Finance portfolio balance increased significantly from $566 million to $1451 million, with AN equity funding increasing from 61% to 74%[15] Capital Allocation - Share repurchases amounted to $225 million, reducing share count by 3%[3] - Capital expenditures were approximately 20% lower than in the first quarter of 2024[25]