Financial Data and Key Metrics Changes - Quarterly revenue reached $9.2 billion, setting a new record for full-year revenue of $37.6 billion, up 4% from 2024 [4] - Adjusted diluted EPS was $6.74 for the quarter, with full-year adjusted EPS of $33.46, up 16% from 2024 [4] - Adjusted EBITDA was $364.1 million in Q4, an 8.9% decrease year-over-year, primarily driven by lower net income [19] Business Line Data and Key Metrics Changes - New vehicle revenue declined 6.6% on an 8.3% unit decline, with new vehicle GPU at $27.66, down $300 year-over-year [6] - Used retail performance showed 6.1% revenue growth, driven by 4.7% unit growth, with used GPU at $1,575, down $151 year-over-year [6] - After-sales revenue grew by 10.9%, with gross profit up 9.8% and a gross margin of 57.3% [8] Market Data and Key Metrics Changes - In the UK, same-store gross profit increased by 10% despite challenging market conditions, with adjusted pre-tax income for the UK up 53% for the full year compared to 2024 [9] - North American penetration for Driveway Finance Corporation reached 15% for the quarter, up 650 basis points [18] Company Strategy and Development Direction - The company is focused on maximizing shareholder return through disciplined capital deployment, including share repurchases and strategic acquisitions [11] - Technology investments, including partnerships with Pinewood AI, aim to enhance operational efficiency and customer experience [10] - The company targets $2-$4 billion of acquired revenue annually, balancing share valuation and acquisition prices to accelerate shareholder return [13] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment remains challenging, with year-over-year earnings pressure driven by margin compression and SG&A de-leverage [15] - The company is well-positioned to deliver compounding earnings growth in 2026 as industry conditions normalize [12] - Management expressed confidence in the resilience of their diversified model and the ability to adapt to changing market conditions [21] Other Important Information - The company repurchased 3.8% of its shares in the quarter and 11.4% of its shares in 2025 at an average price of $314 [20] - Inventory levels remain consistent, with new vehicle day supply at 54 days and used inventory at 40 days [7] Q&A Session Summary Question: Retention levels on the after-sales business - Management indicated retention is slightly up year-over-year, with service contract penetration at 37% [22] Question: Future cash generation and shareholder returns - Management emphasized the focus on share repurchases due to the current stock price being undervalued [24] Question: SG&A as a percentage of gross profit - Management noted that SG&A increased due to weaker sales performance and marketing expenses not materializing as expected [27][28] Question: Demand trends in Q1 - Management reported that trends in Q1 are similar to the last two months of Q4, with some weather impacts noted [31] Question: Used vehicle GPU pressures - Management acknowledged ongoing GPU pressures but highlighted efforts to improve pricing strategies [38][39] Question: After-sales growth drivers - Management attributed after-sales growth to improved customer relationships and the My Driveway portal facilitating better service [43] Question: Luxury vehicle market performance - Management noted a decline in luxury vehicle sales, particularly among brands like BMW and Porsche, but service and parts business remains strong [60]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Investor Presentation Updated 2/11/26 FEBRUARY 2026 Disclosure Forward-Looking Statements Certain statements in this presentation, and at times made by our officers and representatives, constitute forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Generally, you can identify forward- looking statements by terms such as "project," "outlook," "target," "may," "will," "would," "should," "seek," "expect," "plan," "intend," "fore ...

Financial Performance - Asbury Automotive Group achieved record annual revenues of approximately $18 billion for 2025, representing a 5% increase compared to the previous year [1] - The company reported record fourth-quarter revenues of $4.7 billion, up 4% year-over-year [1] - Net income for 2025 was $492 million, reflecting a 14% increase from 2024, while fourth-quarter net income was $60 million, down 53% due to one-time impairments [2] Strategic Initiatives - The company completed a significant acquisition of the Herb Chambers Automotive Group for $1.3 billion, which includes 33 dealerships, 52 franchises, and three collision centers [3] - Asbury is implementing a new cloud-based dealer management system (DMS) called Tekion, which is designed to enhance dealership operations [4][5] Operational Challenges - The transition to the new DMS has been challenging, as it requires dealerships to adapt to a new system that ties into various operations, leading to resistance from technicians [6][7] - During the transition period, Asbury had to maintain two DMS systems simultaneously, which is expected to negatively impact earnings in 2026 [7] - Despite initial resistance, technicians have reported that after familiarizing themselves with Tekion, they prefer it due to its efficiency and user-friendliness [8]

Financial Performance - The company reported record full year revenues of $37.63 billion, representing a 4.0% increase [1] - Fourth quarter revenue reached $9.20 billion, marking a strong performance [1] - Full year diluted earnings per share increased by 9.7%, while adjusted diluted earnings per share rose by 15.7% [1] Sales and Revenue Breakdown - Same-store sales were nearly flat during the quarter [1] - Used revenue increased by 6.1%, and used retail units grew by 4.7% on a same-store basis [1] - Aftersales revenue saw a significant increase of 10.9%, with gross profit up by 9.8% on a same-store basis [1] Financing Operations - Financing operations achieved record quarterly income of $23 million, an increase of $19 million from the previous year [1] - Driveway Finance Corporation attained a penetration rate of 15.0% with an average FICO score of 751 during the quarter [1] Shareholder Returns - The company reported fourth quarter diluted earnings per share of $5.72 and adjusted diluted earnings per share of $6.74 [1] - A total of $947 million in shares were repurchased, accounting for 11.4% of shares outstanding in 2025, including 3.8% of outstanding shares in the quarter [1] Strategic Acquisitions - The company made strategic acquisitions totaling $2.4 billion in annual revenue [1]

Core Viewpoint - Lithia Motors, Inc. is a significant player in the U.S. automotive retail industry, offering a wide range of services and maintaining a strong online presence [1] Price Target and Analyst Sentiment - The consensus price target for Lithia Motors has fluctuated, with the current average at $374, down from $414.5 last quarter and $390.17 a year ago, indicating changing analyst sentiment [2] - Wells Fargo has set a price target of $350, reflecting confidence in the company's growth potential despite the recent decrease in the average price target [3] Financial Performance - In Q3 2025, Lithia Motors reported a 5% increase in revenue and a 17% rise in adjusted earnings per share (EPS) [4] - The company executed share buybacks amounting to 5.1% of its shares at an average price of $312, indicating a shift towards a more mature capital strategy [4] Stock Performance - Lithia Motors' stock has declined by 11.5% since the last earnings report 30 days ago, yet the price target set by Wells Fargo remains at $350, suggesting potential long-term confidence in the company's performance [5]

Core Viewpoint - Penske Automotive (PAG) is expected to report a quarterly earnings per share (EPS) of $3.19, reflecting a 9.9% decline year-over-year, with revenues projected at $7.64 billion, a decrease of 1% compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised upward by 2.3% over the past 30 days, indicating a collective reassessment by analysts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are strongly linked to short-term stock price performance [3]. Revenue Estimates - Analysts project 'Revenue- Retail Automotive' to reach $6.69 billion, indicating a year-over-year decline of 0.5% [5]. - 'Revenue- Commercial Vehicle Distribution and Other' is expected to be $240.56 million, reflecting a year-over-year increase of 7.3% [5]. - 'Revenue- Retail Automotive- Service and Parts' is estimated at $820.12 million, showing a growth of 6.4% from the previous year [5]. Additional Revenue Metrics - 'Revenue- Retail Automotive- Finance and Insurance, Net' is forecasted at $194.48 million, a decrease of 4.3% from the prior year [6]. - The estimated 'Retail Commercial Truck Revenue Per Vehicle Retailed - New Vehicles' is $144,449.60, up from $139,570.00 in the same quarter last year [6]. Unit Sales Projections - 'Retail Commercial Truck Units - Total' is projected to be 3,826, down from 4,432 in the same quarter last year [7]. - 'Retail Automotive Units - Used Retail' is expected to reach 50,882, compared to 54,034 in the previous year [7]. - 'Retail Commercial Truck Units - New Retail' is estimated at 3,036, down from 3,544 in the same quarter last year [10]. Profitability Metrics - The average prediction for 'Retail Automotive Gross Profit Per Vehicle Retailed - New Vehicles' is $4,928.79, down from $5,146.00 in the same quarter last year [8]. - 'Retail Commercial Truck Revenue Per Vehicle Retailed - Used Vehicles' is expected to be $52,932.43, compared to $62,891.00 in the previous year [9]. - 'Retail Automotive Revenue Per Vehicle Retailed - Used Vehicles' is forecasted at $39,382.05, up from $37,657.00 in the same quarter last year [9]. Stock Performance - Over the past month, shares of Penske have returned +1%, while the Zacks S&P 500 composite has shown no change [11]. - Currently, PAG holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [11].

本文转自【宁波晚报】； 近日，广西政法发布了一起二手车交易引发的案件。2022年3月，张某以4.8万元向荔浦某汽车公司购买 了一辆二手车，合同约定车辆无大事故、水泡、火烧，且注明买方知晓车况。但实际上，该车在2018年 曾发生致人死亡事故，虽无实质性、结构性损坏，之后已易手历经过3任车主，但张某并未获悉这一信 息。 2025年8月，张某之子将车进行年检时，才发现该车发生过致人死亡的交通事故，张某父子认为商家隐 瞒了车辆发生过的大事故，向法院起诉请求撤销合同、退全款并支付违约金。二手车交易公司辩称交易 前检验正常，无欺诈，且买家撤销权已超过法定期限，拒绝退款。 法院审理认定，该车虽非行业标准认定的事故车，但商家未尽到全面细致的核验义务，导致向张某提供 的车辆信息不完整。从消费者角度而言，车辆曾"致人死亡"的事实，与张某对车辆"无事故"的认知存在 重大偏差，且该事实足以影响车辆价值及购买决策。因此，买家张某签订合同的行为构成重大误解，符 合撤销合同的法定条件，且撤销权起算日应为买家2025年8月得知车辆发生过致人死亡事故的当日，因 此并未超过90天的法定期限。荔浦市法院作出一审判决：撤销张某与汽车公司签订的车辆交 ...

Core Insights - AutoNation, Inc. reported fourth-quarter 2025 adjusted earnings of $5.08 per share, a 2% increase year over year, surpassing the Zacks Consensus Estimate of $4.91. However, revenues of $6.93 billion fell short of the Zacks Consensus Estimate of $7.14 billion and declined from $7.21 billion in the fourth quarter of 2024 [2][11]. Revenue Breakdown - New vehicle revenues decreased by 8.8% year over year to $3.44 billion, missing the estimate of $3.64 billion due to lower sales volume. Retail units sold were 64,841, down 9.2% year over year, and also below the projection of 73,642 units [3][11]. - The average selling price (ASP) per new vehicle unit was $53,073, a 0.4% increase year over year, exceeding the estimate of $49,384. However, gross profit from this segment fell by 26.7% year over year to $155.5 million, missing the estimate of $171.1 million [4][11]. - Retail used-vehicle revenues reached $1.76 billion, surpassing the projection of $1.71 billion, despite a 2.9% year-over-year decline in used vehicle retail units sold to 62,926, which missed the estimate of 66,669 units. The ASP per used vehicle was $27,933, up 3% year over year, exceeding the estimate of $25,669. Gross profit from this segment fell by 9.2% year over year to $90.5 million, missing the estimate of $97.5 million [5][11]. - Wholesale used vehicle revenues dropped by 13.1% to $133.2 million, missing the estimate of $150.5 million. Gross profit increased to $7.3 million from $4.7 million, matching the estimate [6]. - Finance and insurance business revenues were $369.4 million, a 0.9% increase year over year, but below the projection of $370.4 million. Gross profit was also $369.4 million, matching the year-over-year increase but missing the estimate [6]. - Parts and service revenues rose by 6.1% to $1.22 billion, although it missed the estimate of $1.23 billion. Gross profit from this segment increased by 6% year over year to $591.8 million, beating the estimate of $577.2 million [7]. Segment Performance - Domestic segment revenues increased by 1.2% year over year to $1.89 billion, missing the projection of $1.91 billion. The segment's income rose by 19.3% to $79.9 million but fell short of the estimate of $85.2 million [8]. - Import segment revenues decreased by 2.7% year over year to $2.05 billion, missing the forecast of $2.19 billion. The segment's income declined by 11.4% to $106.8 million, lagging behind the estimate of $136.7 million [8]. - Premium Luxury segment sales fell by 8.9% to $2.64 billion, matching the projection. The segmental income declined by 20.3% year over year to $165.4 million, missing the estimate of $196.1 million [9]. Financial Position - As of December 31, 2025, AutoNation's liquidity was $1.8 billion, including $59 million in cash and nearly $1.7 billion available under its revolving credit facility. The company's inventory was valued at $3.4 billion, and non-vehicle debt stood at $3.98 billion. Capital expenditure for the quarter was $86.3 million [12]. - During the quarter, AutoNation repurchased 1.7 million shares for $350 million, with $968 million remaining under its share repurchase program [12].

Market Overview - Futures are trading lower after a significant rally on Friday, where major indices surged following a three-day sell-off that nearly caused a market meltdown [2] - The Dow Jones Industrial Average reached a new all-time high, closing at 50,115, up 2.47%, while the S&P 500 and Nasdaq also saw gains of 1.97% and 2.18% respectively [2] - The Russell 2000, representing small-cap companies, surged 3.60% to close at 2,670 [2] Treasury Bonds - Treasury yields remained largely unchanged as traders awaited confirmation of the rally's sustainability [3] - Short-term debt was sold off as investors shifted towards riskier assets, leading to a slight steepening of the yield curve [3] - The 30-year bond closed at 4.85%, while the benchmark 10-year note was at 4.21% [3] Oil and Gas - Oil prices increased amid rising geopolitical tensions between the U.S. and Iran, with Brent crude closing at $68.05, up 0.64%, and West Texas Intermediate at $63.55, up 0.41% [4] - Natural gas prices fell by 2.48% to $3.42 due to profit-taking and expectations of warmer weather [4] Economic Outlook - Attention will shift to economic data as fourth-quarter earnings season concludes, particularly following surprising January layoff figures [5] - Market technicians will monitor trading patterns for potential follow-through from the recent rally and anticipate continued sector rotation [5]