- AutoNation press release ( NYSE: AN ): Q2 GAAP EPS of $6.48 beats by $0.19 .
- Revenue of $6.87B (-1.6% Y/Y) misses by $100M .
- New vehicle revenue declined 14% Y/Y; Used vehicle revenue increased 13% Y/Y.
- "AutoNation Associates delivered outstanding performance across all of our business sectors, leveraging our customer focus, digital capabilities, cost discipline, and capital allocation to produce record results. I am particularly pleased with our After-Sales penetration with gross profit increasing 11% compared to last year. This is a key profit driver that has been a particular area of focus since my arrival and that has been structurally embedded in the organization. Additionally, today, we announced our agreement to acquire CIG Financial, an auto finance company. This acquisition addresses a key strategic next step in the evolution and expansion of our customer relationships, particularly for our used vehicle business," said Mike Manley, AutoNation Chief Executive Officer.
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AutoNation GAAP EPS of $6.48 beats by $0.19, revenue of $6.87B misses by $100M