- Automotive retailer AutoNation Inc (NYSE:AN) reported fourth-quarter FY21 sales growth of 14% year-on-year, to $6.58 billion, beating the analyst consensus of $6.37 billion.
- The company attributed the Q4 sales growth to a 55% increase in used vehicle revenue, more than offsetting the decline in new vehicle revenue of 7%.
- Segment income from Domestic rose 49% Y/Y, Import grew 70%, and Premium Luxury rose 50%.
- Gross profit improved 34% Y/Y to $1.3 billion, and the gross profit margin expanded 300 basis points Y/Y to 20%.
- Selling, general and administrative (SG&A) expenses were 57.2% of gross profit.
- The operating margin for the quarter was 8.1%, and operating income was $532.4 million, a 72% Y/Y increase.
- Adjusted EPS of $5.76 beat the consensus of $4.96.
- Cash and equivalents totaled $60.4 million as of December 31, 2021.
- AutoNation has $776 million remaining authorization for share repurchase as of February 15, 2022.
- Looking ahead, the company expects consumer demand for personal vehicle ownership to remain strong for the foreseeable future.
- Price Action: AN shares are trading lower by 3.41% at $107.04 on the last check Thursday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
AutoNation Q4 Earnings Tops Estimates
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks