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AUTONATION, INC.

(AN)
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High Consumer Vehicle Demand Drives AutoNation's 3Q Profit, Sales Higher

10/21/2021 | 05:16am EST

By Kimberly Chin

AutoNation Inc.'s profit rose in the third quarter, driven by an 18% increase in revenue as consumer demand for vehicles continued to grow.

The automotive retailer's profit was $361.7 million, up from $182.6 million in the same period a year earlier. Earnings were $5.12 a share on a GAAP and adjusted basis. Analysts were expecting a profit of $4.21 a share, or $4.20 a share, as adjusted, according to a FactSet poll.

Revenue rose to $6.38 billion from $5.4 billion a year ago. Analysts were targeting $6.29 billion in revenue.

Low production volume of new vehicles was constraining inventory levels, leading customers to buy more pre-owned vehicles, the company said.

AutoNation saw a 53% increase in same-store revenue for used vehicles compared with the previous year. By comparison, same-store revenue for new vehicles was flat year over year.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

10-21-21 0716ET

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Analyst Recommendations on AUTONATION, INC.
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Financials (USD)
Sales 2021 25 755 M - -
Net income 2021 1 315 M - -
Net Debt 2021 3 075 M - -
P/E ratio 2021 7,28x
Yield 2021 -
Capitalization 8 336 M 8 336 M -
EV / Sales 2021 0,44x
EV / Sales 2022 0,41x
Nbr of Employees 21 600
Free-Float 56,5%
Chart AUTONATION, INC.
Duration : Period :
AutoNation, Inc. Technical Analysis Chart | AN | US05329W1027 | MarketScreener
Technical analysis trends AUTONATION, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 127,19 $
Average target price 150,89 $
Spread / Average Target 18,6%
EPS Revisions
Managers and Directors
Michael Mark Manley Chief Executive Officer & Director
James R. Bender President & Chief Operating Officer
Joseph Thomas Lower Chief Financial Officer & Executive Vice President
Rick L. Burdick Independent Chairman
Robert R. Grusky Independent Director