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AutoNation, Inc. (NYSE:AN) shares are trading lower on Thursday after the company reported third-quarter results.
• AN shares are experiencing downward pressure. Review the technical setup here.
The firm reported third-quarter adjusted earnings per share of $5.01 (plus 25% year over year), beating the analyst consensus estimate of $4.82.
Quarterly sales of $7.037 billion, outpacing the Street view of $6.86 billion. Revenues were up 7% driven by increases across all major categories.
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AutoNation reported a 4% same-store unit increase in new vehicles, led by domestic and import brands.
Used vehicle unit sales rose 4% from 2024.
After-sales delivered 6% same-store top-line growth and 7% gross profit growth.
Customer Financial Services posted total unit sales growth above 4%.
AutoNation Finance drove strong adoption, with penetration rising to 10% from 7% in the year-ago period, supporting a high-ROE model.
Quarterly gross profit soared 5% year over year to $1.238 billion, with gross margin expanding to 48.7% from 47.7%. Same-store gross profit grew 4% year over year to $1.221 billion.
Adjusted Operating Income rose 9% year over year to $348.1 million.
AutoNation exited the quarter with cash and equivalents worth $60.2 million. Inventory at the end of the quarter was $3.530 billion.
In September, AutoNation acquired an Audi store and a Mercedes-Benz store in Chicago, following earlier purchases of a Mazda and a Ford store in Denver.
Together, these deals exceed $500 million in annual revenue, broaden the brand mix, and deepen the company's presence in Illinois and Colorado.
AN Price Action: AutoNation shares are trading lower by 2.11% to $212 at publication on Thursday.
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