AN - AutoNation Inc. (AN) Q1 2024 Earnings Call Transcript
2024-04-26 14:25:25 ET
AutoNation, Inc. (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
Presentation
Operator
Welcome to the AutoNation First Quarter 2024 Conference Call. My name is Carla, and I will be coordinating your call today. [Operator Instructions]
I will now hand you over to your host, Derek Fiebig, Vice President of Investor Relations. You may now begin.
Derek Fiebig
Thank you, Carla, and good morning, everyone. I’d like to welcome you to the first quarter 2024 conference call for AutoNation. Leading our call today will be Mike Manley, our Chief Executive Officer; and Tom Szlosek, our Chief Financial Officer. Following their remarks, we'll open up the call for questions.
Before beginning, I'd like to remind you that certain statements and information on this call, including any statements regarding our anticipated financial results and objectives, constitute forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our actual results or performance to differ materially from such forward-looking statements. Additional discussions of factors that could cause our actual results to differ materially are contained in our press release issued today, and in our filings with the SEC. Certain non-GAAP financial measures as defined under SEC rules will be discussed on this call. Reconciliations are provided in our materials and on our website at located at investors.autonation.com.
With that, I'll turn the call over to Mike.
Michael Manley
Thank you, Derek, and good morning, everybody and thank you for joining us today. I'm going to start on Slide 3 and as usual provide some opening remarks before Tom takes you through our first quarter results in greater detail.
Consumer demand for vehicles in the first quarter was robust and in fact this is the first time we have had a quarterly increase in both new and used vehicle sales since the second quarter of 2021. Now specific to new vehicles, you might recall that new unit sales were up 8% in the fourth quarter and now were up 7% in the first quarter. ...
AutoNation, Inc. (AN) Q1 2024 Earnings Call Transcript